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That's absurd. BoA clearly will move the HQ to NY. NY is the financial capital of the world, and the world's greatest banking talent is in NY and Lon. Further, Montag, who is based in NY, clearly is Moynihan's successor.
They lied and said they wouldn't move the headquarters from SF to Charlotte. .....
You are misinformed about this.
The current bank called BofA never had a HQ in SF. The current Bank of America is none other than NCNB (North Carolina National Bank) which absorbed many a bank under the leadership of Charlotte's own Hugh McColl, including the former BankAmerica.
NCNB -> NationsBank -> Bank of America. It's always been HQ'd in Charlotte. When they took over BankAmerica they changed the name of the bank to a former BankAmerica trademark.
Whether it says in CLT is anyone's guess now. The entire lot of TBTF banks, unfortunately including BofA, are IMO running a completely unsustainable business the depends upon the Federal Reserve printing unprecedented amounts of $s and dumping it into reserves and wall street. Eventually it will come crashing down and it won't be pretty. It might be good for Charlotte if it isn't here when it does happen.
Last edited by WaldoKitty; 08-20-2014 at 06:53 PM..
The current bank called BofA never had a HQ in SF. The current Bank of America is none other than NCNB (North Carolina National Bank) which absorbed many a bank under the leadership of Charlotte's own Hugh McColl, including the former BankAmerica.
NCNB -> NationsBank -> Bank of America. It's always been HQ'd in Charlotte. When they took over BankAmerica they changed the name of the bank to a former BankAmerica trademark.
Whether it says in CLT is anyone's guess now. The entire lot of TBTF banks, unfortunately including BofA, are IMO running a completely unsustainable business the depends upon the Federal Reserve printing unprecedented amounts of $s and dumping it into reserves and wall street. Eventually it will come crashing down and it won't be pretty. It might be good for Charlotte if it isn't here when it does happen.
The Boston thing always comes up because that's where Moynihan lives. If they moved the HQ anywhere, it would be NYC (or maybe the Cayman Islands if they're feeling creative ). There's a lot of corporate expense in moving an HQ city and they've been going through years of cost cutting to make up for all the fines that they've been paying for the Countrywide mess. I don't see how they could justify spending that kind of money for no tangible gain.
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). There's a lot of corporate expense in moving an HQ city and they've been going through years of cost cutting to make up for all the fines that they've been paying for the Countrywide mess. I don't see how they could justify spending that kind of money for no tangible gain.
