The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

Abigail Hofman: The invisibility of Montag and Varvel

Increasingly, I am noticing that while bank chief executives have to be seen in public, heads of investment banks are trying to keep a very low profile.

The general public sees bankers, and especially investment bankers, as public enemy number one and no amount of spin is going to change that. But some chiefs are now engaging with the press so rarely that they have become an invisible force.

Tom Montag, global banking and markets chief at Bank of America, is a good example. He is running one of the largest global investment banks but we hardly hear a murmur from him. Last quarter, his area reported net income of $1.9 billion, down some 30% year on year.

The general public sees bankers, and especially investment bankers, as public enemy number one – no amount of spin is going to change that. But Tom Montag and Eric Varvel are now engaging with the press so rarely that they have become an invisible force
The general public sees bankers, and especially investment bankers, as public enemy number one – no amount of spin is going to change that. But Tom Montag and Eric Varvel are now engaging with the press so rarely that they have become an invisible force

I am surprised that Montag has not ventured into the public arena to give us an insight into the synergies of the Merrill/Bank of America merger and what progress his troops are making.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree