We’ve had a lot of fun at Bank of America’s expense in thesepages because, well, just look at the guy running it and the cavalcade of headaches and humiliationsgreat and small he’s had to endure over the last eight years. But while Brian Moynihan & co. amusingly step in it with reliable frequency, the truth is that things have been getting better in Charlotte or Boston or New York or wherever BofA really is. Things have gotten so good that people actually see the bank as a reasonable place to send a résumé, and even accept a job.
Jill Schwartz is joining Bank of America as an executive vice chairman in the bank’s corporate and investment banking unit, according to an internal memo viewed by the Wall Street Journal…. She will be tasked with spurring more collaboration in the capital markets business and will report to Christian Meissner, head of the bank’s corporate and investment banking unit, the memo said.
Now, hold on a minute, you say. Schwartz is coming over from Barclays, an even longer-running and hotter-burning dumpster fire than BofA. And she’s coming into a unit that’s losing talent to Citigroup, for Christ’s sake.
Both are fair points, and applicable to other recent BofA hires from UBS and Deutsche Bank. But the House of Moynihan has even managed to poach a couple from the Elect in recent-ish months, so it’s not all people fleeing sinking ships. As painful as it is to admit, working for Bank of America might not even be embarrassing anymore, not matter what the guy at the top does or which face he makes.