If the Fed finds the bank didn’t fix weaknesses disclosed in March, it could crimp dividends or share buybacks for the third time during Moynihan’s tenure as CEO. That’s already a sore point for investors getting one of the smallest payouts among U.S. banks.
'If they fail this time, I’d call for his head', said E.E. 'Buzzy' Geduld, who owns 2.5m Bank of America shares as head of hedge fund Cougar Capital. 'At the very minimum, you split the CEO and chairman roles, and I’d like to see someone from the outside who’s smart enough and strong enough that Moynihan’s going to have to answer to'.
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