The 3 execs now in a 'horse race' to succeed Moynihan as BofA CEO

Core Viewpoint - Bank of America has promoted three executives, indicating a competitive succession plan for the CEO position as Brian Moynihan aims to remain until the end of the decade [1][3]. Group 1: Executive Promotions - Dean Athanasia and Jim DeMare have been named co-presidents, while Alastair Borthwick has been promoted to senior vice president [1]. - Athanasia oversees the retail and commercial banking units, while DeMare leads the global markets business [2][5]. - The promotions create a competitive environment among the three executives for the future CEO role [2]. Group 2: CEO's Tenure and Strategy - Brian Moynihan has expressed his intention to stay as CEO until at least the end of the decade, continuing the "responsible growth" strategy [3]. - Moynihan has been CEO since 2010, making him the longest-serving chief of a major U.S. bank [3]. Group 3: Performance and Growth - Under Moynihan's leadership, Bank of America's stock has increased by 279%, although it has underperformed compared to rivals like JPMorgan and Goldman Sachs [4]. - Athanasia manages the bank's largest and most valuable business, the U.S. consumer and commercial banking franchise [5]. - DeMare has successfully led the global markets division, which is expected to report its 14th consecutive quarter of rising revenue [6].