BofA CEO Moynihan aims to take harder line on risk

02/9/2010 | Wall Street Journal, The

Brian Moynihan, chief executive officer at Bank of America, recently sent a memo to the bank's employees, encouraging them to keep their risk taking in check. "You may take only those risks that are within our company's overall risk appetite as established by the board of directors. Senior management will determine the risk appetite for your line of business and will communicate that to you. You will be assessed on your risk-taking results," the memo said.

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