Overview
- Bank of America convenes investors in Boston on Nov. 5 for its first formal strategy update in nearly 15 years.
- Shareholders want higher returns through stronger dealmaking and faster wealth growth after a 15.4% Q3 ROTCE trailed JPMorgan’s roughly 20%.
- Analysts anticipate management will set a multi‑year ROTCE target and outline the path to it, with peers already guiding to benchmarks such as JPMorgan’s 17% through the cycle and Wells Fargo’s 17%–18%.
- Brian Moynihan highlights succession depth after elevating Dean Athanasia and Jim DeMare to co‑presidents and naming CFO Alastair Borthwick executive vice president, while indicating he plans to stay through the decade.
- BofA’s core wealth platforms manage about $4.6 trillion in client assets (about $6.4 trillion including broader wealth assets), versus roughly $6.8 trillion at JPMorgan and $7 trillion at Morgan Stanley, and its shares are up roughly 21%–22% this year, lagging big-bank peers.