Well.....per today's announcement from BM. CB is now "vice chair global strategy" relocating to Paris. So we don't have to listen to her any more. Aditya assume CT&IO position.
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Aditya is just a pompous bag of wind. Does not respect women and only kissed up to CB to get ahead. This promo will only inflate his head even more.
Under her leadership AMERICA not just BOFA suffered. She shipped so many jobs to India and they even have a hub in TX (Plano) that houses thousands of visa works (part of BAC Continuum entity) All brought in for jobs that can be done onshore, but at much lower rates. She hired Chabria to run that org. Near zero innovation coming in from the touted "top talent" that could not be found onshore.
Innovation in BofA who literally invented the modern day credit card in the 50s is no more under her. It's just pass the buck and "tactical work". OpEx touted by BM and his birds does nothing more than "realign" our people to face the door way. It's all cost cutting and they've hit a bone. The lard now sits on top. The musical chairs theatrics does nothing to make BofA any threat to Big Tech let alone to JP and or GS.
Under CB and TM leadership...you see swaths of legacy applications just sitting on the shelves and never retired before the next "tactical" effort/reg mandate comes in. There is no real strategy or robust initiatives that see the clean up of the decay that has plagued the infrastructure for years. He-l there are still mainframe applications running without emergency breaks. An you wanna talk about moving to AI and Block Chain?
You failed big time CB. Time to hang it up and retire in Paris decked out in Chanel. You've made enough money. BM needs to be next. He's starting to be a Biden.
What BofA needs:
1) Real investment in People and competitive pay (happy cows produce happy milk)
2) Real investment in Tech (focused efforts in real strategy such as eComm on the commerce and IB/S&T side)
3) Trim the top mgt to create that "flat org" you speak of (preferably with "retirements" aka executive way of letting them go) for "sustainable growth" and fresh talent with fresh thinking
4) "Embrace Change" and "New Ways of Doing Things" as part of the companies new mission statement (Again your musical chair theatrics do not fix this!)
5) Give employees a voice & listen to them. Let them be stakeholders of the company rather than hit em with threats such as LOs. or RTOs (this old "wall street" effect doesnt work).
Europe will see right thru here. And she’ll be gone.
Banished to Paris. Girl Bye!
So she got promoted and now wields even more power. Her job description gives her more control of not only US but European BofA operations.