Brian Moynihan Just Got a Horrible New Nickname
When Brian Moynihan took over Bank of America in 2010, Ken Lewis said that his nickname for the now-CEO was, "Tazmanian Devil."
Calling him the crazy Looney Tunes character that can't form or articulate complete sentences might not sound like a compliment, but it was— back then.
Lewis called Moynihan the "Taz" because of the way he made his way up the corporate ladder, and he used the nickname to convince the board that Moynihan was the right man for the job, said the Wall Street Journal .
It worked.
But now there's a new nickname for Moynihan around Bank of America . Like Tazmanian Devil, it refers to Moynihan's perceived inability to enunciate. But there's nothing complimentary about it. Employees won't even say it to his face.
Moynihan's out-of-earshot nickname within the bank, according to several employees, is “the Mumbler.”
Yikes. The nickname might be significant.
Not only is Moynihan "mumbling" but he's not saying much that people want to hear anyway.
Bloomberg points out something Moynihan said on a conference call with investors, which was meant to assure shareholders that BofA had enough capital, had a plan, and did not need to raise new capital.
Moynihan did all that—here's the plan—but he also said, in response to the question, "How would you rate your performance?"
Moynihan: "In terms of creating shareholder value, not strong. In terms of changing internal business for the better, strong."
A reticent response in a time of uncertainty is clearly not what people are looking for.
_____________________________________________
This story originally appeared on Business Insider
Read more from Business Insider:
» Bank Of America Layoff Plans Are Now Just Getting Ridiculous
» Christine Lagarde Just Doubled Down On Warning That Euro Banks Need To Raise Capital » Good Thing Bank Of America Investment Bankers Have Already Started Looking For Jobs Elsewhere » Wall Street’s Three Most Valuable CEOs_________________________________________
Questions? Comments? Email us atNetNet@cnbc.com
Follow NetNet on Twitter @ twitter.com/CNBCnetnet
Facebook us @ www.facebook.com/NetNetCNBC
