Bank of America CEO Brian Moynihan thinks a round of bank mergers in the United States could produce a competitor that rivals his firm in terms of scale.
“The emergence will come out of the consolidation of another round ... which still has to happen in the United States,” he said during a panel discussion on Tuesday.
Moynihan also spoke about the challenge of doing business across international borders at a time when restrictions on foreign direct investment are increasing:
The question of operating across jurisdictions comes down to a country saying, 'I want to control the outcome for my citizens. And that takes decades to work through. The reality is, there’s going to be great opportunities in those decades. There’s going to be some bumps.”