History of Brian Moynihan in Timeline

Brian Moynihan is an American lawyer and banker who serves as the Chairman, President, and CEO of Bank of America. He assumed these leadership roles in 2010 and continues to hold them. His career is primarily centered around the banking and finance industry, marking him as a key figure in the American financial landscape.

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Full Timeline Career & Achievements

1981: Graduation from Brown University

In 1981, Brian Moynihan graduated from Brown University with a history major, where he also co-captained the rugby team and met his future wife, Susan E. Berry.

April 1993: Joining Fleet Boston Bank

In April 1993, Brian Moynihan joined Fleet Boston bank as a deputy general counsel.

1999: Executive VP at Fleet

In 1999, Brian Moynihan became an executive vice president, managing Fleet's brokerage and wealth management division.

April 2004: Joining Bank of America

After Bank of America merged with FleetBoston Financial in 2004, Brian Moynihan joined BofA as president of global wealth and investment management in April 2004.

September 2008: CEO of Merrill Lynch

In September 2008, Brian Moynihan was named CEO of Merrill Lynch after its sale to BofA.

January 2009: President of Consumer and Small Business Banking at Bank of America

In January 2009, Brian Moynihan became president of consumer and small business banking (SBB) at Bank of America.

2010: CEO of Bank of America

In 2010, Brian Moynihan became the CEO of Bank of America after Ken Lewis stepped down.

2010: Promotion to CEO of Bank of America

In 2010, Brian Moynihan was promoted to chairman, president, and CEO of Bank of America.

2010: Bank of America Paid No Federal Income Tax

In 2010, Brian Moynihan's Bank of America paid no federal income tax and received a $1.9 billion tax refund, despite making $4.4 billion in profits.

2010: Moynihan's Salary

In 2010, while Jamie Dimon, JPMorgan Chase's CEO, received a $19 million raise, Moynihan's salary stayed level at $950,000.

August 25, 2011: Accepting capital from Warren Buffett

On August 25, 2011, CNBC reported that Brian Moynihan accepted $5 billion in capital from Warren Buffett, despite previously stating Bank of America did not need to raise capital, causing some to question Moynihan's credibility.

September 12, 2011: Addressing regulatory capital requirements

On September 12, 2011, CNBC reported that Brian Moynihan addressed his company's plan to meet regulatory capital requirements and stated that the bank would not issue new stock to raise capital, including Warren Buffett's $5 billion investment as Tier 1 Capital, though the markets largely ignored the investment.

October 26, 2011: Criticism of Bank of America's Performance

On October 26, 2011, the Huffington Post noted that Bank of America had been hammered in the stock and bond markets, and was the worst performer in the Dow Jones Industrial Average for two quarters straight. Moynihan's salary remained at $950,000 while JPMorgan Chase's CEO received a large raise in 2010.

December 27, 2011: Admission of Debit Card Fee Failure

On December 27, 2011, Brian Moynihan admitted that the proposed $5 monthly fee for debit card users wasn't the best idea, stating that they "struck a chord with customers that no one anticipated", and the failed fee plan led to a 20% increase in account closures.

2012: Bank of America Shareholder Meeting Protests

In 2012, Bank of America's shareholder meeting in Charlotte, North Carolina convened with protests inside and outside, concerning mortgage servicing operations and decreased share prices, to which Brian Moynihan responded, offering assistance to shareholders.

2012: Criticism by Sen. Bernie Sanders

In 2012, Brian Moynihan, along with other CEOs, was criticized by Sen. Bernie Sanders for Bank of America paying no federal income tax in 2010, despite making $4.4 billion in profits.

2016: Fellow at Brown University

In 2016, Brian Moynihan became a fellow at Brown University, serving until 2027.

2020: CEO of the Year Award

In 2020, Brian Moynihan received Chief Executive's "CEO Of The Year" award.

November 2023: Succession Plan and Compensation

In November 2023, Bloomberg reported that Brian Moynihan had set up a succession plan for his eventual replacement, but he planned on remaining CEO for years. His total compensation from Bank of America was $27.8 million that year.

2023: Honored as a 'Distinguished Bostonian'

In 2023, Brian Moynihan was honored as a “Distinguished Bostonian” by the Greater Boston Chamber of Commerce, and one of the 150 most influential Bostonians by Boston Magazine.

July 2024: Becoming Chancellor of Brown University

In July 2024, Brian Moynihan became the Chancellor of Brown University.

2024: Pay Raise

In 2024, Bank of America paid Brian Moynihan a total of $35 million, which amounted to a 21 percent pay raise year-over-year.

January 2025: Rebuke from President Trump

In January 2025, Brian Moynihan was rebuked by President Donald Trump for not taking "conservative business," with Moynihan responding that Bank of America provides banking services to "everybody."

February 2025: Against over-regulation of banks

In February 2025, Brian Moynihan came out against the "over-regulation" of banks, saying there is "a lot of burden upon the banking system to both report suspicious activity and do a lot of analysis."