Bank of America vice chairman Charles Noski has been named the new chair of the Financial Accounting Standards Advisory Council.

Charles Noski

Noski will begin his one-year term as FASAC chairman on January 1. FASAC advises the Financial Accounting Standards Board on technical issues related to FASB’s agenda, priorities and other issues. He will succeed Dennis H. Chookaszian, former chairman and CEO of CNA Insurance companies, whose term as FASAC chairman concludes on Dec. 31.

“With his breadth of experience in corporate finance across a range of industries, Chuck Noski will bring to the FASAC a deep understanding of the complex issues facing the FASB as it seeks to serve the best interests of all those who use, prepare, and audit financial statements,” Financial Accounting Foundation chairman John Brennan said in a statement. “We are very pleased to welcome him as the new FASAC chairman.”

Prior to his appointment as vice chairman, Noski was executive vice president and CFO of Bank of America. Previously, he served as CFO of Northrop Grumman and as a senior advisor to The Blackstone Group private equity firm. Earlier in his career, he was CFO and, later, vice chairman of the board of directors of AT&T Corporation; and  CFO and, later, president and COO of Hughes Electronics Corporation.
Prior to joining Hughes, he was an audit partner with Deloitte & Touche. MrNoski has also served as a director of Air Products & Chemicals, Inc., Automatic Data Processing, Inc., Morgan Stanley, and Northrop Grumman Corporation, and is currently a director of Avery Dennison Corporation and Microsoft Corporation.