Trump Snubs Bank of America CEO at White House Event

Summary

Bank of America CEO Brian Moynihan was the only major Wall Street CEO not invited to a White House reception hosted by President Trump at Davos, marking the second time he has been excluded from such an event.USHK News+ 2 The snub reportedly stems from Trump’s anger over “de-banking” issues, where he accuses Moynihan of personally denying him a bank account after his JPMorgan Chase account was closed in 2021.USHK News This occurs against a backdrop of Moynihan publicly defending the Federal Reserve’s independence, a stance contrary to Trump’s views.Sina Finance

Impact Analysis

This isn’t just political theater; it’s a clear signal that Trump is personalizing corporate political risk. Singling out Bank of America’s CEO at Davos is a very public and deliberate move.USHK News+ 2 While the stated reason is a personal grudge over ‘de-banking,’USHK News it’s hard to ignore Moynihan’s recent public defense of Fed independence.Sina Finance Trump is drawing a line: CEOs who don’t play along, or who uphold institutional norms he dislikes, will be put in the penalty box.

For BAC, this means a tangible political risk premium. While peers like JPM are inside the tent, BAC now faces a clear antagonism from the White House. This could translate into tougher regulatory scrutiny or being shut out of advisory roles. Bottom line, this creates a compelling relative value trade. I’d short BAC and go long a peer with better political access. The market is likely writing this off as noise, but it’s a real headwind.