Business

Bank of America CEO to face concerned investors

Bank of America Chief Executive Officer Brian Moynihan will have his work cut out for him next week when he speaks at an investor conference in New York.

Shares of the second-largest U.S. bank have bounced around a 52-week low and threatened to fall below $5 earlier this week, before central banks pumped more liquidity into the financial system and bank stocks surged.

Moynihan has been shedding assets to build capital and working to cut expenses to improve profits. But investors remain worried about the bank’s mortgage liabilities and the strength of its balance sheet.

Full story: Bank of America CEO to face concerned investors