History of Brian Moynihan in Timeline

Brian Thomas Moynihan is an American lawyer and banker who currently serves as the Chairman, President, and CEO of Bank of America. He assumed these leadership roles in 2010 and has since been responsible for guiding one of the world's largest financial institutions. His career reflects a blend of legal expertise and banking acumen, positioning him as a key figure in the financial sector.

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Full Timeline Career & Achievements

1981: Graduation from Brown University

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

April 1993: Joined Fleet Boston Bank

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

1999: Executive Vice President at Fleet

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

April 2004: Joined Bank of America

In April 2004, Brian Moynihan joined Bank of America (BofA) as president of global wealth and investment management after its merger with FleetBoston Financial.

September 2008: CEO of Merrill Lynch

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

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, according to the "Top Corporate Tax Dodgers" report.

2010: Jamie Dimon received a raise

In 2010, Jamie Dimon, JPMorgan Chase's CEO, received a $19 million raise in 2010.

August 25, 2011: Acceptance of Capital from Warren Buffett

On August 25, 2011, Brian Moynihan accepted $5 billion in capital from Warren Buffett, despite previously stating that Bank of America did not need to raise capital. This action was noted by CNBC as potentially impacting Moynihan's credibility.

September 12, 2011: Moynihan's Plan to Meet Regulatory Capital Requirements

On September 12, 2011, John Carney from CNBC reported that Brian Moynihan outlined Bank of America's plan to meet regulatory capital requirements and denied the need to issue new stock. He stated that Warren Buffett's $5 billion investment counts as Tier 1 Capital, however, the markets largely ignored the investment.

October 26, 2011: Criticism and Salary Comparison

On October 26, 2011, it was noted that Bank of America, under Brian Moynihan, was the worst performer in the Dow Jones Industrial Average for two straight quarters. While Jamie Dimon, JPMorgan Chase's CEO, received a raise in 2010, Moynihan's salary remained at $950,000.

December 27, 2011: Admission of Debit Card Fee Mistake

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

2012: Shareholder Meeting Protests

In 2012, Bank of America's shareholder meeting in Charlotte, North Carolina, was met with protests both inside and outside, concerning mortgage servicing operations and decreased share prices. Brian Moynihan responded to criticisms by saying, "you can call us and we will figure it out."

2012: Criticism in 'Top Corporate Tax Dodgers' Report

In 2012, Brian Moynihan and Bank of America were criticized in Sen. Bernie Sanders' report titled "Top Corporate Tax Dodgers".

2016: Fellow at Brown University

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

2020: Chief Executive's "CEO Of The Year" Award

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

November 2023: Succession Plan Setup

In November 2023, it was reported that Brian Moynihan had set up a succession plan for his replacement. At the time, he remained CEO and chair of Bank of America's board and stated he planned on remaining CEO for years. In 2023, Moynihan's total compensation from Bank of America was $27.8 million.

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 1, 2024: Became Chancellor of Brown University

On July 1, 2024, Brian Moynihan became the Chancellor of Brown University, interim.

2024: Pay Raise at Bank of America

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

January 2025: Rebuke from President Donald 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, citing the burden on the banking system to report suspicious activity and conduct extensive analysis.