Bank of America's (BAC) chief financial officer said Monday that the banking giant is still in the "early innings" of its cost-cutting initiatives but that it remains on track to reduce its annual overhead by $8 billion a year by mid-2015.
Speaking at the Barclays Global Financial Services Conference in New York, Bruce Thompson also sought to ease investors' fears that B of A is not setting aside enough funds to deal with problem mortgage loans and disputed the assertion that the nation's second-largest bank is too big to manage.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access