Brian Moynihan First Big Speech Responds Directly To The Wall Street Hating Public

brian moynihan yearbookMoyhnihan’s college yearbook photo

Photo: Brown Daily Herald

Today, in his first big speech since he took over as Bank of America’s CEO less than a year ago, Brian Moynihan laid out a very likeable plan.It looks as though he’s taken everything the public doesn’t like about Wall Street to heart and doing the opposite.

Look at what Moynihan says will be his main focus, courtesy of the Wall Street Journal’s briefing on the speech, and what it seems like a direct response to.

Public opinion: Wall Street’s focus on big profits not only caused, but sped up financial crisis Read more

Moynihan’s speech: More modest–and less volatile–profits

Public opinion: Wall Street should not prop trade Read more

Moynihan’s speech: Turning its focus from growing earnings and assets to returning more profits to the bank’s stockholders

Public opinion: Wall Street banks should not be allowed to be “too big to fail” Read more

Moynihan’s speech: Closing branches and shrinking operations to lower overhead as part of those efforts

Public opinion: Wall Street banks should focus more on consumer banking Read more

Moynihan’s speech: Focusing on customers and clients

His speech might have been boring, but it’s good business and great PR.

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