BofA’s Moynihan: Trading unit faces further cost cuts

Thiam made cost cuts and business exits in the trading unit a key pillar of his restructuring since joining in 2015, taking out more than 4 billion of costs. The former insurance executive raised more than 10 billion francs ($9.9 billion) in fresh equity, exited businesses such as distressed-debt trading after heavy losses and reallocated more.

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Bank of America Corporation BAC may have to resort to further expense cuts in its trading division, unless trading revenues improve significantly..

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Brian Moynihan, chief executive of the nation’s second-largest bank by assets, was awarded $12 million in cash and stock for 2012, a year in which the company’s share price more than doubled.

Bank of America Corporation BAC may have to resort to further expense cuts in its trading division, unless trading revenues improve significantly. This was stated by the company’s CEO Brian.

Jan 18 (Reuters) – Brian Moynihan is known inside Bank of America Corp as a problem-fixer and a cost-cutter, according to two executives who have worked with him, and in his three years as the.

Brian Moynihan, chief executive of the nation’s second. Mr. Dimon had his pay cut by 50% in 2012 due to the London “whale” trading fiasco.

Bank of America, the second-biggest U.S. lender, will have to reduce expenses further in its markets trading division unless revenue improves, CEO Brian Moynihan said Wednesday.

BofA’s Moynihan: Trading unit faces further cost cuts Jason Taylor faces foreclosure Jason Tartick and Kaitlyn Bristowe are taking. But Moynihan still predicted that the bank would post a year-over-year increase for the first half, after a strong Q1. More broadly, these worries are rather.

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