I had the opportunity last week to visit with a friend from college whom I had not seen in 25+ years. We had a nice visit in his Park Avenue office, learned that our companies employ roughly the same number of people, and that we market in very much the same way.
As the mother of three, I spend a considerable amount of time begging or demanding that someone to listen to me.
Brian Moynihan is the new CEO of Bank of America. At least for the next few months, eyes will be on him to see what moves he makes as he puts on Ken Lewis’ big shoes.
Moynihan is 50. With a good decade or so in the job, assuming he can keep it that long, he will have an enormous impact. It’s as if 2008-2009 were banking’s “ground zero,” and he has the opportunity to steer not just BofA, but the financial services industry into the post-crisis future. At the moment, it seems like the only way he can go is up.
I wish my grandmother were still alive to see it.
There it was, on the right hand side of the “c” section on Wednesday morning – yes, some of us still read the Wall Street Journal in paper form – an apology of wrongdoing and a commitment of time and funds by Goldman Sachs in an attempt to repair some of the damage.
Trust in financial institutions is at generational lows – of course it is. But one might think that, as the economy starts to lift, so will trust in its institutions. Nope. A November 2009 study by Maritz (client) indicates that the number of people who say they “do not trust” their bank has actually risen in the past six months, from 23% in April of 2009 to 36% this month. It’s getting worse.
