
I Got Covid + Bank of America Forces 2 Old Execs Into Retirement, Will Eventually Replace Them With 2 Old BofA Execs
Rishi Cholera
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<p><strong>Thank you so so much for the support the last 12 days.</strong></p> <p><strong>I was diagnosed with COVID nearly 2 weeks ago, and it has been a hell of a ride. Lost 16lbs, sweating all the time, tiredness... unable to work the way I like to work. It has been a journey.</strong></p> <p><br></p> <p><strong>I talk about it a little bit and I talk about how it will slightly impact some of the things I poop on Big Banks about!</strong></p> <p><br></p> <p><strong>Plus, A story I wanted to talk about for 2 weeks. </strong><a href="https://www.cnbc.com/2021/08/26/bank-of-america-chief-operating-officer-tom-montag-to-depart-at-year-end.html"><strong>Bank of America Announced that Tom Montag, the #2 to Brian Moynihan, and heir-apparent to Moynihan and Anne Finucane, one of the most preeminent female bankers in the industry, AnNoUnCeD ThEiR ReTiReMeNt at the end of the year. </strong></a><strong>I firmly believe they are pushed out because they are older, tenured and more expensive, despite BofA making record profits and announcing a $25/hr min. wage for lower end employees. I have been seeing a lot of older execs "Retiring" this year, replaced by younger folks who likely make way less money than they do.</strong></p> <p><a href="https://www.nytimes.com/2021/05/14/business/bank-of-america-tom-montag.html"><strong>Montag's story in the NYT couldn't have helped. Thank You, Kate Kelly for that piece!</strong></a></p> <p><a href="https://www.bostonglobe.com/2021/08/26/business/anne-finucane-powerful-bank-america-executive-retire/"><strong>Anne Finucane got a puff piece in the Boston Globe</strong></a><strong> where they talked about how she "helped navigate" Bank of America through the financial crisis of 2008. I talk about how she got praised for just basically surviving like I did when I was there. I discuss that a bit, and I also talk about how she did some great work that was propped up by a massive PR Blitz, while not really helping with problems on a consumer level, and forcing a lot of folks into banking in an
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I Got Covid + Bank of America Forces 2 Old Execs Into Retirement, Will Eventually Replace Them With 2 Old BofA Execs
Rishi Cholera