Time is money — especially when you’re Brian Moynihan and run one of the largest banks in the world. For the CEO of Bank of America, prioritizing punctuality is not just a matter of professionalism; it is a sign of respect.
The banking executive starts the day before dawn, reading five different newspapers, checking emails received overnight and working out at the gym — all before 7 am.
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And when he arrives at the Charlotte office each morning, he expects the same respect for others’ time from the bank’s more than 212,000 employees.
“We have a very strong tradition at this company: If you’re late, you’re actually being selfish, and that’s ingrained in people’s culture,” Moynihan said in a recent interview with NBC News. “So we always try to be punctual, not because there is a rule saying you have to be on time, but because being late is being selfish towards the other people involved.”
Moynihan acknowledged that maintaining such a rigorous routine is easier with the help of an “excellent assistant.” But his emphasis on discipline in the workplace goes far beyond the agenda itself.
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Under his leadership, Bank of America has taken a firm stance on in-person work. In 2024, the bank would have sent warning notices — internally called “educational letters” — to employees who did not comply with the requirement to work in the office at least three days a week.
As the second largest bank in the United States by revenue, behind JPMorgan Chase, competition remains intense to maintain and grow its base of more than 70 million customers.
Last year, Moynihan received a base salary of $1.5 million, plus stock incentives totaling $39.5 million, a 17% increase over the previous year. The company’s shares, however, have shown relatively stagnant performance this year, accumulating an increase of less than 1%.
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As the leader of one of the world’s largest financial institutions, Moynihan is not immune to long hours and high-pressure situations. But, according to the 66-year-old executive, the secret to staying ahead is simple: preparation.
“I think the antidote to anything is preparation,” he told Fortune last year. “I’m not a professional athlete, but when you look at great professional athletes, you realize that in difficult moments, they make the world slow down. Some do it through techniques. You see breathing techniques, for example, while others do it simply by the way they focus their mind. I think the same thing happens in business.”
Even after 16 years as CEO, he said something as intense as an earnings conference call never stops being challenging.
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“Honestly, if you believe in what you’re saying — and you should only say what you believe in — and you’re confident in your message, you can get it across. But are you nervous every time? Yes, because it’s your opportunity to make an impact.”
Still, nothing brings him back to reality quite like spending time with family, including his two grandchildren.
“Nothing makes you forget everything that’s going on in life like a three-week-old baby or an 18-month-old. Just look at the simplicity of it,” he added to NBC.
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Other CEOs also have their own meeting etiquette rules
Moynihan isn’t the only executive with strong opinions about meeting etiquette. While many CEOs complain that meetings take up too much work time, they also argue that once a meeting is scheduled, participants should give each other their full attention.
JPMorgan CEO Jamie Dimon has repeatedly said he would like to “put an end to meetings.” But he also made it clear that when a meeting is necessary, showing up prepared and involved is a matter of respect.
“When I go to a meeting, I’ve done all the prep reading and you have 100% of my attention,” the JPMorgan chief said during the Fortune Most Powerful Women meeting last year.
“No napping, no reading my emails,” Dimon added. “If you have an iPad in front of you and it looks like you’re reading emails or checking notifications, I’ll tell you to close the damn device. That’s disrespectful.”
Meanwhile, Southwest Airlines CEO Bob Jordan criticized the excessive number of meetings that clutter his schedule, leaving him no time to do “real work.” This year, he promised to leave Wednesday, Thursday and Friday afternoons free to make the calls, write or develop strategies necessary for the position.
“When you’re starting out, it’s easy to confuse being busy and attending meetings with exercising leadership,” Jordan told a panel of CEOs during The New York Times DealBook Summit last year. “Because what we all realize, I’m sure, is that there’s no time left to actually work, and you end up confusing going to meetings with working.”
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