Page 156 - Flip Banks TG

“But even if it were cleared to make acquisitions,

Moynihan's strategy is the most prudent course for the $2.2

trillion bank to pursue. The successful banks of the future

will spend their money not on buying other banks but rather

on technology and adapting to an evolving customer base,

stuffed with a new generation of consumers with less need

or appreciation for bank branches. In short, as Moynihan

knows better than anyone, Bank of America's acquisitive
strategy of yore is outdated.” (24)

14%

23%

Diagram 2: Ref 3