Wednesday, December 16, 2009

Brian T. Moynihan - A New Year and A New CEO for Bank of America

Come December 31st when Ken Lewis steps down as the Chief Executive officer of Bank of America Brian T. Moynihan will take over as CEO and will have a seat on the Board of Directors.

Who is Brian T. Moynihan?

He is and has held positions as a major decision maker and leader with Bank of America. As of now he is the the president of consumer and small business banking.

He is a 50 year old male.

He started with Fleet Boston Financial in the early 1990's and by 2004 when Bank of America acquired Fleet Boston Financial he had risen to the top of their senior management team.

He was the selected candidate of a extremely large and far reaching search that considered both internal and external candidates for the CEO position.

“I am honored to have the opportunity to lead this important company,” said Moynihan.

Ken Lewis the one who took a tiny bank in North Carolina and made it into a financial institution that continues to be the first of its kind in both size and scope says that he has full confidence in Brian's ability and work ethic.

I can't imagine anyone who is up for that task besides Lewis but then again what the hell do I know... well, besides the notion that I would not touch that position with a 100 foot pole.

This tells me that Big Man Brian does have one obvious qualification...

Balls, and obviously big ones.

Best wishes Brian!