Bank of America CEO Brian Moynihan on how he shrugged off Trump’s accusations

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Jun 25, 2025 - 10:04
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Bank of America CEO Brian Moynihan on how he shrugged off Trump’s accusations
  • In today’s CEO Daily: Diane Brady talks to Bank of America CEO Brian Moynihan.
  • The big story: Trump visits NATO after declining to commit to the alliance.
  • The markets: More sunny weather.
  • Analyst notes from Wedbush on Jony Ive and OpenAI’s io, Apollo on stagflation, and Oxford Economics on the Strait of Hormuz.
  • Plus: All the news and watercooler chat from Fortune.

Good morning.  Every time I’ve seen Brian Moynihan over the years, whether it was at a press briefing after being called America’s worst big bank CEO early in his tenure or watching him get trashed by Donald Trump on stage at Davos, one word has come to mind: unflappable. Now in his 16th year as CEO of Bank of America, Moynihan plays the long game. In this week’s Leadership Next podcast, the man now considered to be one of America’s best big bank CEOs says he would have told his younger self to move faster at making change and to “stay strong, keep calm and carry on.”

“I testified in Congress before I was CEO,” he says, “and was told by the head of a House investigation committee ‘there’s no way you should be CEO of this company.’ He didn’t think our company was any good or I was any good.” Flash forward a few years and that person was “a good colleague” on other issues. “I don’t hold grudges” quips Moynihan, “except as an Irish person for 100 years.”

Growing up with seven siblings in Marietta, Ohio, Moynihan wanted to be a criminal lawyer like Perry Mason. Instead, he became a corporate lawyer for FleetBoston Financial, which merged with BofA in 2004. Tapped as CEO in 2010, Moynihan recently said he would like to stay until the stock price more than doubles to $100—which he seems confident about achieving in these volatile times. “You need to be willing to step in and lead in good times and bad times,” he says. “Some people wear that responsibility like a comfortable sweater and some people could never get into it.”

As for that moment in Davos when Trump publicly accused him of refusing to do business with conservatives? “What you try to be is an energy giver, not an energy taker. So when you’re in a situation of pressure, how do you give people energy? By being calm and showing them a way to do something as a team and as a group that enables you to make progress.” That’s a quality he hires for, too: “You’re looking for people who can be calm at a point of attack,” he says. “When 210,000 team members look at you, they don’t want to see a person who’s going to panic. You may have nervous energy behind you or wonder in the middle of night, what the heck is going on? But if you show that and you let it eat at you, you can’t give energy.” You can listen to our full conversation on Apple, Spotify or YouTube.

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Contact CEO Daily via Diane Brady at diane.brady@fortune.com

This story was originally featured on Fortune.com