It’s been over a decade since former Bank of America CEO Ken Lewis walked away from his position as the CEO of Bank of America.
When the US bank was reeling, the global financial crisis was at its strongest, the Stock price was constantly crashing, it was Brian Moynihan who took the reigns of Bank of America in his hands and corrected all the past mistakes.
Back in 2010, he was the major force behind fixing the sinking ship as he saved the Bank of America from scandals and corruption related to major acquisitions.
Over the years, the kind of work he has put in, has made analysts and investors worried as they are now left wondering – Who’s Next?
Is Brian Moynihan Leaving the Bank of America?
No. At the moment, there are no plans for Moynihan to leave his job as the CEO of Bank of America.
However, he is already 61. Soon or later, some new face would have to replace him.
And in recent years, the mystery surrounding who will replace him has garnered some Pace.
Today in 2021, the candidates who were expected to replace Moynihan, have grown too old for the job.
And the notable candidates who are promoted in the Bank of America management looks Fresh-faced
Thereby making it hard for the investor to decide who will take Moynihan’s position in the BoA.
Why Ken Lewis Left the Bank in 2010?
When the entire world was under a global financial crisis, the Bank of America was getting was receiving heavy criticism from all around the corners.
From lawmakers. Investors and regulators were left shocked with scandals and probes targeting major acquisitions that happened in the past.
That’s why looking back at the circumstances, one can understand the reasoning for leaving Bank of America.
Now in 2021, Bank of America isn’t in any kind of mess similar to 2010.
Moynihan is doing well and you can expect a smoother transition of getting a new CEO of Bank of America.
Who Will Replace Brian Moynihan?
Whenever in the future, Moynihan leaves, he’ll be the longest CEO in the history of Wall Street.
Even though at the moment, he hasn’t shared his view on who’ll replace him, you can expect him to make the decision right before he decides to leave the job.
Now according to the analysts, the perfect choice for the next Bank of America should:
✅Be somewhere around the age of 45-50 years
✅Have got the experience in leading Bank of America’s other businesses.
✅Understand the bank’s social agenda.
✅Be comfortable with regulators.
Well, looking at these criteria, these executives can replace the current Bank of America CEO:
- Alastair Borthwick
- Andy Seig.
- Cathy Bessant
- Dean Athanasia
- Jim DeMare
- Raul Anaya
- Steve Boland
Today, when Bank of America in a stable State, many candidates can replace successfully.
As I said before, there is still some time left until Moynihan gives up his job.
So, before that time comes, it’s better to have some candidates lined up as the successor of Brian Moynihan.
That’s all for now.
What do you think? Who will replace Brian Moynihan?
Do share your thoughts in the comment section down below.