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The Boston Globe

Business

Moynihan has not met bank’s goals

Brian Moynihan’s two-year tenure as CEO has been marked by slow progress as Bank of America untangles itself from its past

Shortly after he was named chief executive of Bank of America Corp. in December 2009, Brian Moynihan hopped on a stage near the bank’s headquarters in downtown Charlotte, N.C., to rally employees.

The bank had been battered by the housing slump, financial crisis, federal bailouts, and several government investigations. But Moynihan, a Wellesley resident, insisted the future was bright for a company with leading positions in consumer branches, credit cards, investment banking, and other lines of business. It is the largest bank in Massachusetts and one of the largest in the country.

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