Brian Moynihan on Consolidating Bank of America

The transcript discusses a company's strategy to consolidate and reduce operations, focusing on core franchises and reducing assets from $2.7 trillion to $2.2 trillion. It highlights the global nature of their corporate investment banking and markets business. Due to legal restrictions, the company cannot acquire depositary institutions, leading to a focus on organic growth by opening new branches and investing in technology. The CEO emphasizes the importance of organic growth and the challenges of managing a large, historic company.

What are the implications of the legal restrictions mentioned regarding acquisitions?

What does the speaker mean by 'organic growth' in the context of the company's strategy?