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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

By Todd Wallack

 |  Globe Staff  

  December 25, 2011

For Bank of America CEO Moynihan, cleaning the mess left by his predecessor has been a long, difficult slog, complicated by a weak economy in the United States and the threat of a financial crisis in Europe, which has pummeled bank stocks everywhere. Two years into the job, he has moved deliberately to clear the backlog of lawsuits, increase capital reserves, and streamline operations - selling peripheral assets, closing branches, and preparing to cut 30,000 jobs over the next three years.

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