Revenge of the bank chiefs: CEOs plan response to regulators at Davos

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Jan. 28 (Bloomberg) — Leaders of some of the world’s biggest banks met today on the sidelines of the World Economic Forum in Davos, Switzerland, to plot ways to reassert their influence with regulators and governments.

Chief executive officers, including Bank of America Corp.’s Brian Moynihan and UBS AG’s Oswald Gruebel, convened one week after U.S. President Barack Obama shocked financiers with plans that may force large banks to limit their size and curb investments in hedge funds and private equity.

The closed-door meeting, held down a hallway near the back entrance of the Davos conference center, aimed to prepare executives for another private meeting in Davos on Jan. 30 with top policy makers and regulators, including U.S. House Financial Services Committee Chairman Barney Frank.

Full story: Bank Chiefs Plot Response to Regulators in Private Davos Huddle Bloomberg via BusinessWeek