BofA exec: Consumer bank will continue to reduce headcount over time — and here's why

Bank of America Corp. (NYSE: BAC) continues to reduce headcount in its consumer-banking business. It’s an ongoing trend for the Charlotte-based bank, as fewer transactions are done in branches and more customers use mobile banking. Thong Nguyen, president of retail banking and co-head of consumer banking, talked about this business shift at the Morgan Stanley Financials Conference in New York this week. Nguyen said the consumer bank is just over half of BofA’s earnings and revenue, according…

from Charlotte Business News - Local Charlotte News | Charlotte Business Journal http://www.bizjournals.com/charlotte/news/2016/06/15/bofa-exec-consumer-bank-will-continue-to-reduce.html?ana=RSS%26s=article_search