Moynihan still in running at Bank of America?

We noted elsewhere that Bank of America chief risk officer Greg Curl may have eased into the internal pole position in the CEO sweepstakes. The other internal candidate, Brian Moynihan, may have been dealt a serious blow by a House panel that reportedly piled loads of criticism on the him.

Moynihan was a key figure as the Merrill Lynch deal unfolded. The day's hearing was all about the snap decision to fire his predecessor as general counsel at Bank of America. It's unclear what happened, but the danger for Moynihan is that it looks like he got the job via some crony ploy by his Fleet supporters.

Reuters notes that Moynihan held up well, appearing calm in the face of tough questioning. Still, the optics would not look good if he were to be named CEO. For one thing, it would be seen as hard for him to break with the past, given his involvement with the deal. Also, the decision would be seen as merely a reflection of the lack of viable candidates. This may all be playing to Greg Curl's advantage, as he's managed to stay under the regulators' radar.

For more:
- here's a Reuters article
- here's the Bloomberg article

Related Articles:
Moynihan's bar status questioned
Bank of America CEO search flagging?

Post a comment