Moynihan to Charlotte: Maybe?

February 2, 2010 | By Jim Kim

Bank of America (BAC) is denying that it intends to set up a dual headquarters situation, basing the bank in New York and Charlotte.

According to the Charlotte Observer, the bank is adamant that its headquarters will remain in Charlotte, and no one doubts that's true. But what a statement it would make by CEO Brian Moynihan, if he were to actually move to Carolina. That's a wrenching personal decision on his part. He's said to be quite involved in the sports activities of his children, and he has certainly built up roots in Boston.

There's this idea that you can work anywhere in this tech-connected day and age. But that doesn't really apply to the CEO. His physical presence means a lot. Given that he is seen as the pride and joy of the old Fleet contingent, it would be a profound gesture if he were to move away; it would demonstrate a real commitment. But that may be asking too much. His loyalty is to his family first, then the bank, not to the city. As of now, he hasn't indicated what his plans are, other than leaving the HQ in Charlotte. His official office remains Ken Lewis' old office on the 58th floor.

For more:
- here's an article from the Observer