Bank of America's bankers & traders should see these 8 slides
Bank of America's investor day is happening. Brian Moynihan has made his pitch; Matthew Koder and Jim De Mare are due to step up to the great glass lectern. If you don't want to sit through the presentation, you can flick through the slides here. If you don't have the patience for that, this is what you need to know.
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1. Bank of America cut headcount in its consumer and operations businesses from 2010, but it added technologists, bankers, markets professionals and others from 2018
Now, Moynihan says BofA plans to "drive efficiency" in other areas.
Source: Bank of America
2. In consumer banking, at least, the trend is for fewer and fewer people and for those who survive to be more experienced
Source: Bank of America
3. Bank of America has 3,100 investment bankers; they are strongest when dealing with consumer and retail clients
Source: Bank of America
4. Bank of America has 200 middle market bankers and may soon be hiring more. This is how it plans to grow its banking business:
Source: Bank of America
5. Despite growing sales and trading revenues by less than JPMorgan and Morgan Stanley, BofA says it's seized sales and trading market share since 2020. It also says that it employs 650 research analysts
Source: Bank of America
6. Bank of America plans to increase its global markets revenues from $3bn to $4bn by focusing on its EMEA macro trading business and its APAC equities trading business in particular
Source: Bank of America
7. It helps that markets are growing, especially for US treasuries
Source: Bank of America
8. BofA's global markets business has made $197bn of loans. This who it's been lending to
Source: Bank of America
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