The best job in banking?

Breakingviews suggests that for all the challenges, discussed at length here, whoever takes over as CEO of Bank of America will also be facing an incredible opportunity, one that few executives will ever have. The chance to rebuild a bank like Bank of America comes once in a lifetime. And frankly, there's a reason the likes of John Paulson has loaded up on the stock.

It's a pretty impressive amalgam of companies, including the likes of Merrill Lynch and LaSalle and probably some other assets. If managed right, it could emerge as a powerful competitor to JPMorgan Chase. People assume the top external candidates are balking because they don't want government interference and because the pay would be initially low. But for a real visionary, those are temporary problems within his or her control.

If they can pay back TARP funds, solve the balance sheet, and get through the recession, they'll be duly rewarded. So far, unfortunately, such a visionary has not emerged. Richard Bove favors inside candidate Gregory Curl as an "intermediate leader," with Barbara Desoer as the ideal long-term choice. Interesting!

For more:
- here's the article

Related Articles:
Bank of America CEO search flagging?
Would you want to lead Bank of America?