BofA's Strategic Turn: Closing Gaps, Embracing Growth

Bank of America (BofA) is under scrutiny as it seeks to strengthen its competitive stance against major players like JPMorgan and Goldman Sachs. Analysts have expressed concerns over BofA's subpar investment banking and wealth management returns compared to its rivals.

During an upcoming investor meeting in Boston, CEO Brian Moynihan aims to outline growth strategies focusing on consumer and small business lending. As the second-largest U.S. bank, BofA contends with its investment arm trailing in dealmaking revenue, and its wealth management division managing fewer client assets.

Despite improvements in return on tangible equity over the past decade, experts suggest BofA has become overly cautious, potentially missing growth opportunities in investment banking and wealth management. Moynihan's succession plans are also in the spotlight, as BofA strategizes to increase its market share and profitability.