Trump presidency? Bank of America CEO Moynihan says company will be fine

Reuters News
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Posted: Jun 01, 2016 10:30 PM

By Dan Freed

(Reuters) - Bank of America Corp Chairman and Chief Executive Officer Brian Moynihan on Wednesday played down the impact on the bank if Donald Trump is elected as the next president of the United States.

Moynihan was put on the spot by billionaire investor Wilbur Ross at an annual fundraising dinner for the Japan Society in New York when he was asked about a possible Trump presidency. "I've made it my personal practice--because when you run a big company--I do not say 'candidate A versus candidate B' but what I think we need as we think about transition is we need a leader for the whole country," Moynihan said.

Trump, the presumptive Republican nominee for the 2016 presidential election, has faced criticism on a variety of issues, including his position on trade, immigration and foreign policy.

"I have high confidence that the powers of office will be able to shape people into being what's good for America. If they're really answering that question I think at the end of the day Bank of America will be fine," said Moynihan.

Ross, who is Chairman and Chief Strategy Officer at Invesco Ltd subsidiary WL Ross & Co, interviewed Moynihan on stage for 20 minutes as guests ate the first course of cold smoked fish.

(Reporting by Dan Freed; Editing by Diane Craft)