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Thursday, December 17, 2009
Introducing the new Fleet BofA
Well, at least it's done. Bank of America Corp.'s board whiffed by selecting an insider/outsider, but thankfully, the publicly bungled succession process is finally over. Look soon for spin on the new Bank of America, which will resemble the old with a new "fleeting" influence. 'Fleeting' is a bad play on words referring to the strong influence of three former Fleet executives who currently sit on BofA's board and the new CEO, Brian Moynihan, who also formerly worked at Fleet. More things change, the more they stay the same. Prediction: The bank's board will be shopping for another CEO within a year's time.
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