Brian Moynihan Biography
Brian Moynihan is an American businessman, investment banker, and Bank of America chairman and CEO. Following his 2010 promotion to president and CEO, he joined the board.
Brian Moynihan Age
Brian is 63 years old as of 2023. He was born on 9 October 1959 in Marietta, Ohio, United States. He celebrates his birthday on 9 October.
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Brian Moynihan Family
Moynihan was born as the sixth of eight children in an Irish family. Two of her siblings are Patrick Moynihan, and Kathryn Moynihan.
Brian Moynihan Wife
He is married to Susan Berry. The couple has three children. Susan has a master’s degree in TESOL and has worked as an ESOL instructor, academic program manager, teacher educator, trainer of trainers, and curriculum writer in international multicultural education for more than 25 years.
Brian Moynihan Education
In 1981, Moynihan received his diploma from Brown University, where he majored in history, co-captained the rugby team, and met Susan E. Berry, his future spouse. Before returning to Providence, Rhode Island, to join Edwards & Angell LLP, the largest corporate law firm in the city, he received his Juris Doctor from the University of Notre Dame Law School.
Brian Moynihan Net Worth
He as an estimated net worth of $99.7 Million.
Brian Moynihan Salary | Compensation
For 2021, the company’s record-breaking year of profitability, Moynihan will receive compensation ranging from 31% to $32 million. The lender in Charlotte, North Carolina, stated in a filing on Friday that his package included a salary of $1.5 million as well as stock-based incentive awards worth $30.5 million. Moynihan was paid $24.5 million for 2020, a 7.5 percent pay cut due to the pandemic.
Brian Moynihan CNBC
Moynihan accepted $5 billion in capital from famed investor Warren Buffett,” Drew Sandholm of CNBC wrote on August 25, 2011. On Thursday, the deal not only caught the Fast Money traders off guard, but it also made them question Moynihan’s credibility. According to CNBC’s John Carney on September 12, 2011, Moynihan had “also been hammered in the stock and bonds markets” and “was the worst performer in the Dow Jones Industrial Average for two-quarters straight… while Moody’s downgraded the bank last month,” according to Huffington Post blogger Jillian Berman on October 26.
Brian Moynihan Bank of America
Before becoming president of Bank of America’s consumer and small business banking (SBB) division in January 2009, Moynihan held a number of banking positions. In April 1993, he started working as a deputy general counsel for Fleet Boston Bank. He was Fleet’s executive vice president from 1999 to April 2004, in charge of the brokerage and wealth management division. He joined Bank of America (BoA) as president of global wealth and investment management in 2004 when FleetBoston Financial and Bank of America (BofA) merged. After Merrill Lynch was sold to BoA in September 2008, he was promoted to CEO, and in 2010, he succeeded Ken Lewis as CEO of Bank of America.
She added that even though Jamie Dimon, CEO of JPMorgan Chase, received a raise of $19 million in 2010, Moynihan’s salary remained the same at $950,000. In an article that appeared in Business Insider on December 27, 2011, Julia LaRoche stated that Moynihan “admitted the proposed $5 monthly fee for debit card users wasn’t the best idea.” It was later reported that account closures increased by 20% in the final three months of 2011 as a result of the failed fee plan.
According to Business Insider, “a group of law professors and activists from a non-profit called Public Citizen sent a petition to Fed Chairman Ben Bernanke and Treasury Secretary Geithner asking them to consider breaking up and reforming Bank of America.” This request was made in response to the publication’s report.
Moynihan was selected as Chief Executive Magazine’s 2020 CEO Of The Year in July 2020. He currently resides in Wellesley, Massachusetts, and uses Bank of America’s private jets to frequently travel between Boston and the company’s headquarters in Charlotte, North Carolina. Some shareholders have been critical of this practice.