President Trump seemed to mock Bank of America CEO Brian Moynihan during a recent dinner at the White House with various Wall Street executives. This comes amid ongoing tensions over Trump’s earlier proposal to “abolish the bank” following the unrest on January 6, according to reports.
Moynihan did not receive an invitation to this dinner, while JPMorgan Chase’s Jamie Dimon was included and is expected to attend. Other notable CEOs on the guest list include Adena Friedman from Nasdaq, Larry Fink from BlackRock, Ted Pick from Morgan Stanley, and David Solomon from Goldman Sachs.
Jane Fraser, another high-profile CEO, was invited but won’t be there, as it’s believed she has connections to Trump after a recent arrangement regarding managing his finances.
Interestingly, Dimon received his invite despite his bank being under scrutiny for allegedly refusing banking services to conservative clients. Yet, Dimon is often viewed as a political moderate and has maintained a good relationship with Trump, who has been mentioned as a potential candidate for Treasury Secretary.
Said one CEO expected at the dinner, “Trump doesn’t have much fondness for Moynihan.”
Both the White House and Bank of America declined to comment on the situation. Meanwhile, a source close to Moynihan told the Post that they aren’t taking this lightly. Moynihan, notably, has been invited to other dinners, including a state dinner at Windsor Castle hosted not by the White House, but by King Charles III.
On the same day as the dinner, Moynihan mentioned to Fox News his intentions to meet with New York City Mayor-elect Zoran Mamdani to discuss future strategies, especially as neighboring states are attempting to attract businesses from New York.
Trump has criticized Moynihan publicly before, first during a virtual event in Davos, Switzerland, and later in the summer, claiming that Bank of America was among those who cut ties with the Trump Organization after his presidency.
Both Bank of America and JPMorgan Chase have pushed back against pressure from the current Biden administration to limit services to certain right-wing entities and individuals, particularly in light of the tumultuous events surrounding the January 6 Capitol riot.
Moynihan is often seen as a progressive figure on Wall Street regarding cultural issues, focusing on diversity, equity, and environmental governance.
Another challenge facing Moynihan is his past with the culture wars, especially during his presidency at Brown University, which had faced backlash for its resolutions related to businesses operating in Israel. Though the vote to strip large endowments from such companies failed, the history lingers.
