SAN FRANCISCO - Bank of America Corp. late Wednesday named Brian Moynihan as president of its global corporate and investment banking unit, following disappointing third-quarter results in its capital markets businesses.

Moynihan succeeds Gene Taylor, who is retiring at the end of the year.

The Charlotte, N.C.-based financial-services giant also said it has launched a strategic review of its GCIB unit, and plans to cut about 3,000 jobs, or less than 2 percent of its overall work force.

The majority of the cuts are GCIB-related, including business lending, treasury services and capital markets and advisory services, as well as supporting infrastructure, the company said.

“While some of these changes are a direct result of our underperformance, others have been contemplated for a number of months as we looked at how we could operate more effectively,” said BofA Chairman and Chief Executive Kenneth Lewis in a statement.

Bank of America shares closed down 30 cents at $47.48.

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