Brian Moynihan’s Unique Approach to CEO Communication
Brian Moynihan, the CEO of Bank of America—the second-largest bank in the United States—has held his position for an impressive 16 years. Known for his sharp intellect and extensive experience in the financial sector, Moynihan has developed a distinctive style of communication that sets him apart during quarterly earnings calls. Rather than sticking to conventional corporate jargon, he intentionally incorporates obscure and archaic words into his statements, turning analyst calls into a subtle linguistic game.
This unusual habit has drawn attention from Wall Street analysts and financial media alike. According to a recent Wall Street Journal report, Moynihan’s use of words like “gainsay,” “concomitant,” and “fantods” is not accidental but part of a secret challenge he plays during these calls. Only a select few employees at Bank of America are privy to this ongoing word game, which adds a playful yet intellectual layer to his otherwise serious corporate communications.
The Secret Word Game in Analyst Calls
Each quarter, Moynihan integrates at least one advanced or archaic word into his prepared remarks, sometimes including multiple such words in a single sentence. His team members choose these words at the last minute, ensuring that the CEO’s vocabulary remains fresh and challenging for listeners. For example, “gainsay,” which means to deny or contradict, has appeared multiple times in his calls. In another instance, he described growth in fee-based assets as “concomitant,” meaning accompanying or associated, and admitted to not “getting fantods,” a colloquial term for nervousness.
A Bank of America spokesperson told the Wall Street Journal that Moynihan “loves a good challenge and always makes us think,” describing the practice as “ludically noetic”—playful yet intellectual. Merriam-Webster defines “ludic” as playful and “noetic” as relating to the intellect, perfectly capturing the spirit of Moynihan’s approach.
How Moynihan’s Vocabulary Challenges Analysts
Moynihan’s penchant for advanced vocabulary doesn’t just add flair—it occasionally causes confusion. During an earnings call, he once described the Iran war as “anfractuous,” meaning winding or complex. Transcription services struggled to capture this unusual word correctly: FactSet recorded it as “infructuous” (unproductive), Bloomberg as “intractable” (difficult to manage), and S&P Global Market Intelligence interpreted it as “in [fractures].”
Bank of America employees and Wall Street analysts listening in try to spot the newly introduced word during each call. For example, in 2022, Moynihan used “perspicacious,” meaning smart and insightful, to describe analysts who might foresee economic trends. This linguistic game adds a layer of engagement and intellectual challenge to the calls, which normally focus solely on financial performance.
Wells Fargo analyst Mike Mayo called Moynihan’s vocabulary an “intellectual flex” but emphasized his preference for straightforward communication. Mayo described Moynihan as the “anti-Jamie Dimon,” contrasting him with the JPMorgan Chase CEO, who is known for clear and easily understood messaging.
Brian Moynihan’s Professional Journey
Moynihan’s educational background and career reflect his intellectual rigor. He studied history at Brown University, graduating in 1981, where he also served as co-captain of the rugby team. He then earned his Juris Doctor degree from the University of Notre Dame Law School in 1984. Known among colleagues for his photographic memory and tireless work ethic, Moynihan joined Bank of America in 2004 after its merger with FleetBoston Financial and became CEO in 2010.
Under his leadership, Bank of America has grown substantially, boasting a market capitalization of approximately $443 billion at the time of writing. Moynihan’s distinctive communication style, combined with his strategic vision, has helped shape the bank’s trajectory in a highly competitive industry.
Key Takeaways
- Brian Moynihan is the CEO of the second-largest bank in the U.S. and has been in the position for 16 years.
- Moynihan regularly uses words like “gainsay,” “concomitant,” and “fantods” as part of a secret game he plays on analyst calls.
- Sometimes his diction can lead to confusion, with different transcription services recording the wrong word.
For a detailed look at Brian Moynihan’s unique communication style and its impact on Wall Street, read more Here.
