Moynihan Aims to Make BofA ‘Smaller, More Focused’

Moynihan Aims to Make BofA ‘Smaller, More Focused’ Play

Sept. 9 (Bloomberg) -- Bank of America Corp., the lender struggling to contain losses from soured mortgages, will cut employees and assets to make the biggest U.S. lender easier to manage, said Chief Executive Officer Brian T. Moynihan. About four dozen of the bank’s top executives were scheduled to meet today at the firm’s Charlotte, North Carolina headquarters to review initiatives in Moynihan’s cost-cutting plan, known as Project New BAC. Betty Liu reports in today's Movers and Shakers on Bloomberg Television's "In the Loop." (Source: Bloomberg)

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