Moynihan says BofA to be smaller and easier to manage

09/9/2011 | Bloomberg

Brian Moynihan, chief executive officer at Bank of America, said that the lender will pare back its assets as well as its workforce in an effort to make it easier to manage. "It's time to simplify the organization, streamline the organization and make sure our business processes are relevant when you have a smaller, more focused company," Moynihan said. "We just don't need to be the biggest."

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