The current CEO of Bank of America

Brian Moynihan has been the Chief Executive Officer of Bank of America since 2010. He oversees the bank's operations across all divisions: consumer banking, wealth management, and investment banking. Moynihan reports to the board of directors and is responsible for the bank's strategy, risk management, and day-to-day decisions that affect how the bank serves customers.

Before becoming CEO, Moynihan spent 25 years at Bank of America and its predecessor companies in various roles, including running the consumer and small business banking division. He took over as CEO during the financial crisis recovery period and has led the bank through regulatory changes, technology shifts, and the move toward digital banking. His background in consumer banking means he has direct experience with the products and services that affect most account holders.

Key Takeaways

  • Brian Moynihan has been Bank of America's CEO since 2010 and reports directly to the board of directors.
  • The CEO sets the bank's overall strategy, which affects everything from account fees to which services are offered to customers.
  • Bank of America's board of directors oversees the CEO and makes decisions about major corporate actions and shareholder matters.
  • Changes in leadership or strategy at the CEO level can eventually affect account features, interest rates, and customer service policies.
  • Your account protections and regulatory requirements remain the same regardless of who serves as CEO.

What the CEO actually controls

The CEO sets the direction for the entire bank, which means decisions made at Moynihan's level eventually reach you as a customer. This includes choices about which products to offer, how much to invest in technology and customer service, what fees to charge, and how aggressively to pursue different business lines. The CEO also decides how the bank responds to regulatory requirements and market competition.

However, the CEO does not make individual decisions about your account. Your account terms, interest rates, and customer service are handled by thousands of employees across different departments. The CEO's role is to set the policies and priorities that guide those employees. For example, the CEO might decide the bank will focus on mobile banking, but individual engineers and product managers build the actual app.

The board of directors above the CEO

Moynihan answers to Bank of America's board of directors, a group of outside directors and company leaders who oversee the CEO's performance and approve major decisions. The board meets regularly to review financial results, risk management, and strategic direction. If shareholders or regulators have concerns about the bank's performance, the board is the body responsible for addressing them.

The board also decides whether to keep or replace the CEO. In practice, this means the CEO's job security depends on the bank's financial performance, regulatory standing, and shareholder satisfaction—not on individual customer complaints. The board members themselves are listed on Bank of America's investor relations website and in SEC filings, which are public documents.

How CEO changes affect your banking

A change in CEO can eventually affect your account, but not immediately. New leadership typically takes months or years to implement major strategic shifts. For example, a new CEO might decide to close branches, raise fees, or invest heavily in mobile banking—but these changes roll out gradually across the bank's operations. You would see these changes announced in advance through account statements, email, or the bank's website.

Your account terms and protections are also governed by federal banking regulations, which do not change when a CEO does. The Federal Reserve, the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau all set rules that Bank of America must follow regardless of who is in charge. These regulations cover deposit insurance, interest rate disclosure, fee transparency, and fraud liability.

Where to find current information about Bank of America leadership

Bank of America publishes information about its leadership on its investor relations website, which is public and free to access. You can find the CEO's name, the board members, and details about their backgrounds and responsibilities there. The bank also files annual reports with the Securities and Exchange Commission (SEC) that include leadership information and corporate governance details. These documents are updated regularly and available to anyone.

If you have questions about how a specific policy or fee affects your account, you do not need to contact the CEO's office. Instead, contact Bank of America's customer service line or visit a local branch. Customer service representatives can explain account terms and connect you with the right department for disputes or complaints. For formal complaints about the bank's practices, the Consumer Financial Protection Bureau maintains a complaint portal that investigates issues.

Why CEO information matters to account holders

Understanding who runs the bank helps you understand how decisions get made and where to direct concerns. If you disagree with a policy or fee, knowing the chain of command—from your local branch to customer service to the CEO to the board—helps you understand whether a change is temporary or strategic. It also helps you recognize when a decision is set by federal regulation versus when it reflects the bank's own choices.

The CEO's tenure and background also signal the bank's priorities. Moynihan's long tenure and consumer banking background suggest the bank is focused on stability and retail customers rather than constant strategic overhauls. This can affect how quickly the bank adopts new technology, how it prices products, and how it responds to customer feedback.

Frequently Asked Questions

Can I contact the CEO about my account or a problem with my bank?

You can send a letter to Bank of America's corporate office, but it will be routed to the appropriate department—not read by the CEO directly. For account issues, customer service or your local branch is faster and more effective. For formal complaints, the Consumer Financial Protection Bureau accepts complaints about banks and investigates them.

How long has Brian Moynihan been the CEO?

Moynihan became CEO in 2010 and continues in that role. He has led the bank through the financial crisis recovery, the shift to digital banking, and multiple rounds of regulatory changes. His tenure is one of the longer CEO tenures at major U.S. banks.

What happens if the CEO leaves or is replaced?

The board of directors would choose a replacement, usually from inside the bank or from another major financial institution. The transition typically takes several months. Your account and its protections remain unchanged during a leadership transition—the bank continues to operate under the same regulations and customer agreements.

Does the CEO decide my interest rates or account fees?

The CEO sets the overall strategy and policies that guide those decisions, but does not set individual rates or fees. Different departments within the bank handle pricing based on market conditions, competition, and the policies the CEO and board have approved. If you disagree with a fee or rate, contact customer service to discuss your options.