<p>India's business magnet Mukesh Ambani would step down as the board of director of the Bank of America and instead join its global advisory council, the bank announced Friday.<br /><br /></p>.<p>Ambani has decided not to seek another term on the company's board of directors at its 2013 annual meeting of stockholders, the Bank of America said in a statement.<br /><br />He has served on the Bank of America board of directors since March 2011 and became a director prior to the establishment of the Global Advisory Council.<br /><br />Chairman and managing director of Reliance Industries Ltd, Ambani will join 13 other internationally recognised business, academic and public policy leaders who serve on the Global Advisory Council.<br /><br />The council, chaired by Bank of America Chief Executive Officer Brian Moynihan, is a non-fiduciary body that shares expertise and insights on the bank's global engagement.<br />"Our Global Advisory Council is an ideal venue for the company to continue to benefit from Mukesh's judgment and insights," Moynihan said.<br /><br />"We are very grateful for Mukesh's contributions to the board and for the global expertise and perspective he provided," said Chad Holliday, chairman of the Bank of America board of directors.<br /><br />One of the world's largest financial institutions, Bank of America serve approximately 53 million consumer and small business relationships.</p>
<p>India's business magnet Mukesh Ambani would step down as the board of director of the Bank of America and instead join its global advisory council, the bank announced Friday.<br /><br /></p>.<p>Ambani has decided not to seek another term on the company's board of directors at its 2013 annual meeting of stockholders, the Bank of America said in a statement.<br /><br />He has served on the Bank of America board of directors since March 2011 and became a director prior to the establishment of the Global Advisory Council.<br /><br />Chairman and managing director of Reliance Industries Ltd, Ambani will join 13 other internationally recognised business, academic and public policy leaders who serve on the Global Advisory Council.<br /><br />The council, chaired by Bank of America Chief Executive Officer Brian Moynihan, is a non-fiduciary body that shares expertise and insights on the bank's global engagement.<br />"Our Global Advisory Council is an ideal venue for the company to continue to benefit from Mukesh's judgment and insights," Moynihan said.<br /><br />"We are very grateful for Mukesh's contributions to the board and for the global expertise and perspective he provided," said Chad Holliday, chairman of the Bank of America board of directors.<br /><br />One of the world's largest financial institutions, Bank of America serve approximately 53 million consumer and small business relationships.</p>