Wednesday, August 24, 2011

Fortune Article on Brian Moynihan

Fortune did an article on Brian Moynihan on July 7, 2011. I would suggest reading it if you have an interest in Bank of America.

Moynihan landed the CEO job during a secret interview at the Four Seasons hotel in New York City in November 2009 by promising the board's search committee that he would follow a rigid set of principles: Sell virtually every asset unrelated to bedrock banking. Forget all acquisitions, now and forever. Don't grow total loans, but do change the mix so BofA won't be overexposed to risky consumer credit in a bad cycle.

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