Brian Moynihan

Real Name - Brian Moynihan

Born – October 9, 1959, Marietta, Ohio, USA
Citizenship – USA
Title – Chairman and CEO of Bank of America
Education – Brown University (BA), University of Notre Dame (JD)
Net Worth – US$69.6 Million dollars

CAREER

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.[9] From 1999 to April 2004, he served as
Executive Vice President, managing Fleet's brokerage and wealth management division.
After Bank of America (BoA) merged with FleetBoston Financial in 2004, he joined BoA as
president of global wealth and investment management.[11] He was named CEO of Merrill
Lynch after its sale to BoA 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 bonds 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. On December 27, 2011, Julia LaRoche
wrote in Business Insider that Moynihan "admitted the proposed $5 monthly fee for debit
card users wasn't the best idea". She quoted him as saying: "We struck a chord with
customers that no one anticipated. We learned our lesson and stopped it."It was later reported
that the failed fee plan led to a 20% increase in account closures during the last three months
of 2011. Business Insider noted that "a group of law professors and activists from a non-
profit called Public Citizen sent a 24 page petition to Fed Chairman Ben Bernanke and
Treasury Secretary Geithner asking them to consider breaking up and reforming Bank of
America. Bank of America’s Brian T. Moynihan Named Chief Executive Magazine’s 2020
CEO Of The Year He currently lives in Wellesley, Massachusetts and frequently commutes
between Boston and Bank of America's headquarters in Charlotte, North Carolina using Bank
of America's private jets. This practice has come under scrutiny from some shareholders.

ACHEIVEMENTS

Moynihan participates in several organizations that focus on economic and market trends,
including the World Economic Forum International Business Council, the Financial
Services Forum and the Bank Policy Institute (chair of both), the Business Roundtable,
and the American Heart Association CEO Roundtable (co-chair). He is also a member of
the Federal Advisory Council of the Federal Reserve Bank.

Moynihan leads the company’s Global Diversity and Inclusion Council and is a member
of the museum council for the Smithsonian’s National Museum of African American
History and Culture. Moynihan is also a member of the Brown University Corporation's
Board of Fellows and the Congressional Medal of Honor Foundation Board.