Bank of America targets international expansion to boost trading revenue
What happened
Bank of America reported its third-quarter earnings, during which CEO Brian Moynihan stated the firm is in a "dog fight" to maintain its trading revenue growth. The bank is expanding its international operations to secure future revenue. Between 2019 and 2025, markets revenues outside North America roughly doubled to US$8.8bn, while US and Canada markets revenues increased by 45% to US$12.1bn.
From ifre.com
Why it matters
Bank of America is targeting US$2bn–$3bn in international revenue opportunities over the next three to five years, specifically in structured notes, Asian markets, and corporate clients. This aggressive push for international market share and trading revenue increases competitive pressure on major financial institutions.
From ifre.com
Who's involved
- Bank of AmericaAmerican multinational banking and financial services corporation
- Brian MoynihanCEO of Bank of America, driving the firm's strategy
- Brian WeinsteinHead of EMEA global markets at Bank of America
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- JPMorgan ChaseSpeculative
JPMorgan Chase might face increased competitive pressure on market share due to Bank of America's international expansion.
- Goldman SachsSpeculative
Goldman Sachs could face increased competitive pressure as Bank of America aggressively pursues trading revenue.
- Morgan StanleySpeculative
Morgan Stanley could see increased competitive pressure as Bank of America seeks international market share.
- Wells FargoSpeculative
Wells Fargo might face increased competitive pressure from Bank of America's pursuit of trading revenue and international growth.
Keep exploring
The entities involved
-
Bank of America
American multinational banking and financial services corporation
-
Brian Moynihan
American businessman, banking executive and lawyer