After 14 years of silence, Bank of America (BAC) CEO Brian Moynihan will hold the company’s first “investor day” since 2011, Charles Gasparino of The New York Post reports. Moynihan recently laid out a succession plan and was likely prodded by his board to make the meeting. BofA is the second largest bank in the U.S., permanently lagging behind JPMorgan (JPM). Insiders blame Moynihan for the lag, since he runs the company the same as he did when he was first hired, by scaling back on risk and managing the bank’s balance sheet.
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