he is now becoming a direct report to brian moynihan. they are the two investment banking guys you need to watch. it's at a time of a major attrition in the industry. lisa: this is the most significant overhaul since the financial crisis. right now, it's less clear. can you give us more insight into that? >> you are seeing these changes in line with other banks. they are searching for their next generation. the talent of tomorrow is not the same as yesterday. i pulled up their bios. you have skidmore college, a bachelors in economics. you have the university of south wales australia. they are a different set of people. you have three more women out of the five people elevated to the top. now is going to be lauren succeeding david. it's the trusted confidant. jonathan: let's talk about fresh eyes and with industry needs. for some of these big banks, they are looking at an explosion of buy now pay later. some firms are doing something different. square his changed again. they missed it in a big way. that's not a criticism. it's not a criti

retirements, andrea smith and david leitch the first big take away from today's announcement, brian moynihan is going nowhere. a source close to me suggests at 61 he's keen to remain in place for most of the rest of this decade and it's north noting that nobody received the firm-wide coo title that the departing tom montag had that said, the standout name in the promotions is dean athanasia who adds president of commercial banking to his president of consumer and small business titles this is a significant additional role for him, also a significant change in structure for bank of america. more akin to others like jp moor morgan and chase alistair back and forth wick is the new cfo meaning he'll have exposure to investors rather than predominantly clients in the years to come. if anything were to happen to moynihan imminently, it would be one of those who take over possibly also the outgoing ceo who is 61 and becoming the vice chair. but if moynihan does indeed complete this full decade as chairman and ceo, a slew of other names will have time to prove themselves and into the running as well

bank of america ceo brian moynihan says they have enough capital to retain employees and keep them fromoached by competitors. they raised their base pay from $95,000 to $100,000 in august. dani: thank you so much. coming up, we will look at stocks to watch for the open, including the french auto parts maker. this is bloomberg. ♪ dani: welcome back to the open. we are eight minutes from the cash equity open, looking at a futures session pointing higher. let's look at your stocks to watch with joe easton qamar equities team. we have more auto news? joe: in france, the latest company from the auto sector cutting its guidance this morning. this is twofold, on the cost and margin side they are cutting their margin and profit. this is partly due to the chip shortage we have covered a lot, and supply issues. the other side is on the sales side. they have cut their sales guidance. that might be due to the fact that carmakers cannot cut chips to make vehicles and do not need their parts, but it could say something about demand given we have seen a spike in car demand last year when people were u

. >>> following the news last month that two long-standing deputies to ceo brian moynihan were retiringoday. also, in fact, news of two more retirements. a source close to him says he's keen to stay in place for the rest of the decade and no one has received the c.o.o. title that said, the standout name is probably dean, now president of global commercial banking is added to his title significant additional roll for him, more akin to other banks, merging those areas. he is 55, and alastair borthwick also got a significant promotion, now is cfo, mean he'll have more exposure to investors rather than clients going forward. if moynihan does complete a decade, there's a slew of successors there's nine new direct reports, so it's hard to pick out of five are women, two are black, two are asian, and of the eight business lines, at least are led by women. >> they basically still have their finance that's where they took over, and that's kind of fascin fascinating, i find a lot offage station, it's about let's have some clarity >> at 61, he's younger than others half a percent dawn, straight ah