- June 11, 2021
- Posted by: Stratford Team
- Category: Business
When Brian Moynihan took the reins at Bank of America Corp (BAC.N) in 2010, the U.S. bank was reeling.
Its former CEO suddenly left as scandals and probes related to a major acquisition unfurled. Its stock price was tanking, and the global financial crisis was still going strong.
Since then, Moynihan, 61, has not just righted the ship, but transformed Bank of America, leaving analysts, industry people and some investors wondering what – and who – comes next.
Moynihan has no imminent plans to leave, but as his tenure continues, so does the mystery of who will replace him. Candidates who were clear front-runners have grown too old, while those recently promoted to Bank of America’s management committee are too fresh-faced.
That leaves Moynihan with a new challenge over the next few years: determining who would best replace him, and marketing that person to the world without alienating other senior executives.
“Who becomes CEO is not a minor thing,” said…