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Brian Moynihan
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Brian Moynihan
Brian Thomas Moynihan (born October 9, 1959) is an American lawyer and banker. He was the chairman, president, and CEO of Bank of America, having been promoted to these positions in 2010.
Moynihan is a member of the Council on Competitiveness board and Partnership for Rhode Island board, among other boards. He became the Chancellor of Brown University in July 2024.
Moynihan was born on October 9, 1959, in Marietta, Ohio. He was the sixth of eight children in a Catholic family of Irish descent. Moynihan graduated from Brown University in 1981, where he majored in history, co-captained the rugby team and met his future wife, classmate Susan E. Berry. He earned a Juris Doctor from the University of Notre Dame Law School, before returning to Providence, Rhode Island, to join Edwards & Angell LLP, the city's largest corporate law firm.
Moynihan held numerous banking positions before becoming president of consumer and small business banking (SBB) at Bank of America in January 2009.
He joined Fleet Boston bank in April 1993 as a deputy general counsel. From 1999 to April 2004, he was an executive vice president, managing Fleet's brokerage and wealth management division. After Bank of America (BofA) merged with FleetBoston Financial in 2004, he joined BofA as president of global wealth and investment management. He was named CEO of Merrill Lynch after its sale to BofA in September 2008 and became the CEO of Bank of America after Ken Lewis stepped down in 2010.
On August 25, 2011, CNBC's Drew Sandholm noted that "[d]espite having recently told investors Bank of America ... doesn't need to raise capital, CEO Brian Moynihan will accept $5 billion in capital from famed investor Warren Buffett. The deal not only surprised the Fast Money traders on Thursday, it also caused them to question Moynihan's credibility."
On September 12, 2011, CNBC's John Carney noted that Moynihan had "once again laid out his company's plan to meet regulatory capital requirements and denied that the bank will have to issue new stock to raise capital ... [Moynihan] says that Warren Buffett's $5 billion counts as Tier 1 Capital. But the markets have largely ignored the investment, most likely because it looks a lot more like debt than capital."
On October 26, 2011, Huffington Post blogger Jillian Berman noted that BoA "has also been hammered in the stock and bond markets" and "was the worst performer in the Dow Jones Industrial Average for two quarters straight ... while Moody's downgraded the bank last month." She added while Jamie Dimon, JPMorgan Chase's CEO, received a $19 million raise in 2010, Moynihan's salary stayed level at $950,000.
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Brian Moynihan
Brian Thomas Moynihan (born October 9, 1959) is an American lawyer and banker. He was the chairman, president, and CEO of Bank of America, having been promoted to these positions in 2010.
Moynihan is a member of the Council on Competitiveness board and Partnership for Rhode Island board, among other boards. He became the Chancellor of Brown University in July 2024.
Moynihan was born on October 9, 1959, in Marietta, Ohio. He was the sixth of eight children in a Catholic family of Irish descent. Moynihan graduated from Brown University in 1981, where he majored in history, co-captained the rugby team and met his future wife, classmate Susan E. Berry. He earned a Juris Doctor from the University of Notre Dame Law School, before returning to Providence, Rhode Island, to join Edwards & Angell LLP, the city's largest corporate law firm.
Moynihan held numerous banking positions before becoming president of consumer and small business banking (SBB) at Bank of America in January 2009.
He joined Fleet Boston bank in April 1993 as a deputy general counsel. From 1999 to April 2004, he was an executive vice president, managing Fleet's brokerage and wealth management division. After Bank of America (BofA) merged with FleetBoston Financial in 2004, he joined BofA as president of global wealth and investment management. He was named CEO of Merrill Lynch after its sale to BofA in September 2008 and became the CEO of Bank of America after Ken Lewis stepped down in 2010.
On August 25, 2011, CNBC's Drew Sandholm noted that "[d]espite having recently told investors Bank of America ... doesn't need to raise capital, CEO Brian Moynihan will accept $5 billion in capital from famed investor Warren Buffett. The deal not only surprised the Fast Money traders on Thursday, it also caused them to question Moynihan's credibility."
On September 12, 2011, CNBC's John Carney noted that Moynihan had "once again laid out his company's plan to meet regulatory capital requirements and denied that the bank will have to issue new stock to raise capital ... [Moynihan] says that Warren Buffett's $5 billion counts as Tier 1 Capital. But the markets have largely ignored the investment, most likely because it looks a lot more like debt than capital."
On October 26, 2011, Huffington Post blogger Jillian Berman noted that BoA "has also been hammered in the stock and bond markets" and "was the worst performer in the Dow Jones Industrial Average for two quarters straight ... while Moody's downgraded the bank last month." She added while Jamie Dimon, JPMorgan Chase's CEO, received a $19 million raise in 2010, Moynihan's salary stayed level at $950,000.
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