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Bank of America CEO: capital markets business down, but pipelines are full – Metro US

Bank of America CEO: capital markets business down, but pipelines are full

FILE PHOTO: Brian T. Moynihan, chairman & CEO of Bank
FILE PHOTO: Brian T. Moynihan, chairman & CEO of Bank of America, testifies before a House Financial Services Committee hearing on Capitol Hill in Washington

NEW YORK (Reuters) – Bank of America Chief Executive Officer Brian Moynihan said the bank’s capital markets business “is down” so far in 2022, even as the investment bank continues to see a strong pipeline of customer activity.

Speaking at a banking conference, Moynihan also said consumer spending on childcare is again at pre-pandemic levels, an indication that more people are getting back to work.

(Reporting by Elizabeth Dilts Marshall; Editing by Chizu Nomiyama)

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