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Moynihan Tries to Keep BofA Intact


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Here's a not-so-flattering view:

Bank of America shook up its executive ranks in what the firm euphemistically calls “de-layering.” This meaningless bit of corporate jargon - de-layering - is wonderfully ridiculous and has been woefully underused in press releases. So I’m coining a better, newer, just as meaningless but more easily grasped term in the headline: executive-level exfoliation.




I'm inclined to agree with Heidi Moore's point on the personnel changes - ousting Sallie Krawcheck and Joe Price, two popular executives who have little to do with the bank's current troubles, seems like a clear power grab.


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