Bloomberg Surveillance Bloomberg Surveillance TV: September 17th, 2025
Sep 17, 2025
Brian Moynihan, Chair and CEO of Bank of America, discusses pivotal leadership changes and the rationale behind a highly anticipated Investor Day. He dives into the bank's commitment to a $25 minimum wage, innovative hiring strategies, and the deployment of AI to enhance efficiency. Co-President Jim DeMare shares insights on market performance, regulatory challenges, and the strategic direction for his expanded role. Together, they explore the intersection of technology and finance in shaping the future landscape.
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Leadership Shift To Drive Companywide Leverage
- Bank of America created two co-presidents to leverage company-wide initiatives and free up leadership bandwidth.
- The change aims to accelerate AI, expense efficiency, and organic revenue growth across businesses.
Use Investor Day To Close Perception Gaps
- Showcase measurable metrics and continuums to close the company's relative value gap with investors.
- Use Investor Day to present organic growth, payments, international reach, and AI plans together clearly.
Raise Minimum Pay To Cut Turnover
- Raise starting pay and improve benefits to reduce turnover and boost customer satisfaction.
- Bank of America's $25/hour minimum plus benefit enhancements cut turnover and improved customer scores, benefiting shareholders.