Bank of America Plans More Cost Cuts as Earnings Slide -- 7th Update
Bank of America Corp. Chief Executive Officer Brian T . Moynihan said the firm has plenty of capital and he's confident it will pass the next U.S. stress tests.
Brian T . Moynihan , who endured record losses and public thrashings while cleaning up Bank of America Corp.'s mortgage mess, said he wouldn't mind being chief executive officer of the lender forever.
(Bloomberg) Bank of America Corp. Chief Executive Officer Brian T . Moynihan has summoned more than 100 of his regional leaders to a private meeting today where they'll be pushed to boost the lender's flagging revenue, said two people with direct knowledge of the project.
Bank of America CEO Brian Moynihan warned that adviser productivity and profit margins at Merrill may continue to fall as the firm sacrifices short-term profitability for long-term growth.
Bank of America's current management team has allowed the firm to have possibly the strongest capital position among major U.S. banks, says Oakmark's Bill Nygren.
This week: Best Buy tumbles hard, B of A soars (too high), and 4-star GM restarts dividends.