Brian Moynihan

Brian Moynihan
Born	Brian Thomas Moynihan
Birthplace	Marietta, Ohio, U.S.
Nationality	American
Occupation	Chairman and CEO of Bank of America
Title	Chairman, President, and CEO of Bank of America; 22nd Chancellor of Brown University
Known for	Leading Bank of America since 2010
Education	Brown University (AB) University of Notre Dame (JD)
Spouse(s)	Susan Berry
Children	3

Brian Thomas Moynihan is an American banker, lawyer, and corporate executive who has served as the chairman, president, and chief executive officer of Bank of America, the second-largest bank in the United States by assets. Appointed CEO in December 2009 and assuming the role in January 2010, Moynihan has led the institution through the aftermath of the 2007–2008 financial crisis, a period of significant legal and regulatory challenges, and a subsequent era of sustained profitability and strategic realignment. Born in Marietta, Ohio, and educated at Brown University and the University of Notre Dame Law School, Moynihan practiced corporate law before transitioning to banking, rising through the ranks at FleetBoston Financial and then Bank of America following its acquisition of Fleet in 2004. Beyond his role at Bank of America, Moynihan became the 22nd Chancellor of Brown University in July 2024 and serves on the boards of several organizations including the Council on Competitiveness and the Partnership for Rhode Island. In February 2026, Bank of America's board approved total compensation of $41 million for Moynihan for the 2025 fiscal year, reflecting a 17 percent increase over the prior year.

Early Life

Brian Thomas Moynihan was born in Marietta, Ohio, a small city along the Ohio River in the southeastern part of the state. He grew up in a large family; accounts from his early career indicate that his upbringing in a modest Midwestern community shaped his practical approach to business and management.

Moynihan attended Brown University in Providence, Rhode Island, where he earned a Bachelor of Arts degree. At Brown, he was involved in athletics, playing on the university's rugby team — a connection he maintained long after graduation. The university later dedicated the Brian Thomas Moynihan Field in recognition of his contributions to the Brown rugby program and the broader university community.

After completing his undergraduate studies at Brown, Moynihan enrolled at the University of Notre Dame Law School, where he earned his Juris Doctor degree. His legal training would prove foundational to his early career in corporate law and later to his role navigating complex regulatory and litigation matters at Bank of America.

Education

Moynihan holds two degrees: an AB from Brown University and a JD from the University of Notre Dame Law School. His undergraduate education at Brown, an Ivy League institution, provided a liberal arts foundation, while his law degree at Notre Dame prepared him for the legal career that preceded his entry into banking. Moynihan's connection to Brown remained strong throughout his professional life; he served on the university's governing boards and was elected as the 22nd Chancellor of Brown University in 2024, succeeding Samuel M. Mencoff.

Career

Early Legal Career and Entry into Banking

Following his graduation from Notre Dame Law School, Moynihan began his professional career as a corporate lawyer. He practiced at a law firm in Providence, Rhode Island, where he specialized in mergers, acquisitions, and corporate governance matters. His legal background gave him expertise in the regulatory and transactional dimensions of financial services, which facilitated his transition into the banking industry.

Moynihan entered the banking sector through FleetBoston Financial, one of the largest financial institutions in New England at the time. At Fleet, he held a series of leadership positions that exposed him to various aspects of retail and commercial banking. He was known within Fleet as an effective manager who could navigate complex organizational challenges and integrate business units following mergers and acquisitions.

Rise at Bank of America

In 2004, Bank of America completed its acquisition of FleetBoston Financial, a deal valued at approximately $47 billion that significantly expanded Bank of America's presence in the northeastern United States. Moynihan transitioned to Bank of America as part of the merger and quickly assumed prominent leadership roles within the combined institution.

At Bank of America, Moynihan held several senior positions before his appointment as CEO. He served as president of the bank's global corporate and investment banking division, led the wealth management and brokerage services division, and oversaw consumer and small business banking. This breadth of experience across multiple business lines distinguished him from other candidates when the CEO position became open in late 2009.

Moynihan also played a key role in Bank of America's acquisition of Merrill Lynch in 2008–2009, one of the most consequential financial deals of the crisis era. He was tasked with leading integration efforts between the two firms, a complex undertaking given Merrill Lynch's large wealth management and investment banking operations.

Appointment as CEO

On December 16, 2009, Bank of America's board of directors named Brian Moynihan as the company's new chief executive officer, effective January 1, 2010. He succeeded Ken Lewis, who had announced his retirement amid mounting criticism over the Merrill Lynch acquisition and the bank's receipt of federal bailout funds during the financial crisis.

Moynihan's selection followed a protracted search process during which the board considered both internal and external candidates. He was chosen in part for his legal background, which was viewed as an asset given the extensive litigation and regulatory scrutiny the bank faced in the wake of the financial crisis. His appointment was announced alongside a Bank of America press release noting his extensive experience across the bank's business lines.

Navigating the Post-Crisis Era

Moynihan's early years as CEO were defined by the significant legal, financial, and reputational challenges stemming from the 2008 financial crisis and the bank's acquisitions of Merrill Lynch and Countrywide Financial. Bank of America faced tens of billions of dollars in legal settlements, regulatory fines, and mortgage-related losses during this period.

In October 2011, the bank generated significant public backlash after announcing plans to implement a $5 monthly debit card fee for customers. The proposed fee, which came in response to revenue constraints imposed by the Durbin Amendment that capped interchange fees charged to merchants, prompted widespread consumer anger and calls for boycotts. Moynihan initially defended the fee, but Bank of America ultimately reversed course and abandoned the plan in November 2011. Reports indicated that the debit card fee plan led to a 20 percent increase in closed accounts at the bank during the period in which it was under consideration.

The episode was emblematic of the broader challenges Moynihan faced during his first years as CEO. He was the subject of sustained criticism from consumer advocates, politicians, and shareholders who questioned the bank's direction. A 2011 report in The Huffington Post detailed the range of critics targeting Moynihan and Bank of America during this turbulent period.

Despite these challenges, Moynihan pursued a strategy of simplifying the bank's operations, reducing risk, and settling legacy legal matters. He oversaw the sale of non-core assets and businesses, divesting dozens of business units and positions that were deemed peripheral to the bank's core operations. This simplification strategy was aimed at reducing complexity and improving the bank's financial stability.

Election as Chairman

On October 1, 2014, Bank of America's board of directors elected Moynihan as chairman, combining the roles of chairman and CEO. The move came after shareholders voted in favor of a proposal to allow the board to recombine the two roles, which had been separated in 2009 under pressure from investors and regulators during the financial crisis.

The decision to reunify the chairman and CEO positions was a significant vote of confidence from the board in Moynihan's leadership. However, it was also controversial, as some corporate governance advocates argued that separating the roles provides an important check on executive power. The Charlotte Observer reported on the dynamics surrounding the shareholder vote and its implications for the bank's governance structure.

Strategic Direction and Recent Leadership

Under Moynihan's continued leadership, Bank of America invested substantially in technology and digital banking capabilities. The bank developed and expanded its digital banking platform, including the virtual assistant known as Erica, and invested billions of dollars annually in technology infrastructure. These investments were part of Moynihan's strategy to drive efficiency through technology while maintaining the bank's extensive physical branch network.

In January 2026, Moynihan expressed optimism about the bank's deal-making pipeline, stating in an interview with Semafor that "the pipelines are full" and "it's clear you can get a deal done now," signaling confidence in the business environment for mergers and acquisitions and corporate lending.

In February 2026, Bank of America announced a $25 billion commitment to private credit, representing a significant strategic expansion into a rapidly growing segment of the financial markets. The move positioned the bank to compete with private equity firms and other non-bank lenders in the direct lending space.

Moynihan has also been vocal on broader economic and policy issues. In December 2025, he stated publicly that financial markets "will punish people if we don't have an independent Fed," advocating for the continued independence of the Federal Reserve as President Donald Trump sought a new chair for the central bank.

On the subject of artificial intelligence and its impact on the workforce, Moynihan drew comparisons to previous technological revolutions. In a February 2026 interview with Fortune, he referenced the introduction of computers in the 1960s as an analogy, suggesting that while AI would transform the nature of work, the long-term effects on employment would be more nuanced than the most dire predictions suggested.

Davos and Political Dynamics

In January 2026, the Financial Times reported that Moynihan was excluded from the invitation list for a reception hosted by the White House at the World Economic Forum in Davos, Switzerland, which included the leaders of other major financial institutions. The report highlighted the sometimes complex relationship between major bank executives and political administrations.

Personal Life

Brian Moynihan is married to Susan Berry. The couple has three children. The family has been based in the greater Charlotte, North Carolina, area, where Bank of America's corporate headquarters is located.

Moynihan has maintained a strong connection to his alma mater, Brown University, throughout his career. He has served on the university's governing bodies and has been a supporter of Brown's athletic programs, particularly rugby. The Brown Men's Rugby field was named in his honor — the Brian Thomas Moynihan Field — in recognition of his support for the program.

In July 2024, Moynihan became the 22nd Chancellor of Brown University, succeeding Samuel M. Mencoff. The chancellorship is the highest position in Brown's corporate governance structure, and Moynihan's appointment reflected his longstanding involvement with the university.

Compensation

In February 2026, Bank of America disclosed that its board of directors approved total compensation of $41 million for Moynihan for the 2025 fiscal year, representing a 17 percent increase over his prior year compensation. Fortune reported that the raise reflected a year in which Bank of America, the second-largest U.S. bank, demonstrated strong financial performance.

Banking Dive noted that Moynihan's compensation increase, while significant, followed a trend in which newer big-bank CEOs received larger percentage raises than their longer-tenured counterparts, reflecting the dynamics of executive compensation in the banking sector.

Recognition

Moynihan's tenure as CEO of Bank of America has been characterized by the institution's recovery from the financial crisis and its subsequent stabilization as one of the largest and most profitable banks in the United States. He has been included in various rankings of influential business leaders and has appeared on lists compiled by Forbes and other business publications.

He serves on the board of the Council on Competitiveness, a nonpartisan group of corporate executives, university presidents, and labor leaders focused on American economic competitiveness. He also serves on the Partnership for Rhode Island board, reflecting his continued ties to the state where he spent much of his early career and attended university.

Moynihan has made numerous appearances before Congress and in public forums discussing financial regulation, economic policy, and the banking industry. His appearances have been archived by C-SPAN.

Legacy

As one of the longest-serving CEOs among major U.S. bank executives, having led Bank of America since January 2010, Moynihan's tenure spans a period of significant transformation in the American banking industry. He assumed leadership of an institution burdened by the consequences of crisis-era acquisitions and regulatory scrutiny, and oversaw a strategy of simplification, legal settlement, and technological investment that returned the bank to consistent profitability.

His approach to leadership has been characterized by a focus on what he has described as "responsible growth" — a framework that emphasizes growing the business in a sustainable manner while managing risk and investing in employees and communities. Under this strategy, Bank of America expanded its digital banking capabilities, maintained its position as one of the largest employers in the financial services sector, and navigated multiple economic cycles.

Moynihan's role as Chancellor of Brown University, which began in 2024, extends his influence beyond the financial sector into higher education governance. His combined positions at Bank of America and Brown University make him one of the more prominent figures bridging American corporate leadership and academic institutional governance.

His public statements on matters including Federal Reserve independence and the impact of artificial intelligence on employment have positioned him as a prominent voice in discussions about economic policy and the future of work in the financial services industry.