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The White House excluded Bank of America chief executive Brian Moynihan from a Davos reception that included the leaders of other major financial institutions, signalling a rift between Donald Trump and the head of the US’s second-largest lender.
Moynihan was the only chief executive of a major Wall Street bank not to be invited to a reception honouring Trump on Wednesday evening at the World Economic Forum, said a person familiar with the matter and a list of guests seen by the FT.
The snub marks the second time the White House has left Moynihan out of such a gathering. Trump did not invite him to a dinner for Wall Street executives at the White House in November.
By contrast, other US bank CEOs including JPMorgan’s Jamie Dimon, Citigroup’s Jane Fraser and Wells Fargo’s Charlie Scharf were set to attend the reception in Davos, according to the guest list.
The 66-year-old CEO has attracted the White Houses’s ire over the issue of “debanking”, a suspicion that some people or companies have been unfairly denied banking services for reasons including political views.
Trump accused Moynihan of personally refusing to open a bank account for him, after JPMorgan closed his account following his departure from the White House in 2021.
“Brian was kissing my ass when I was president,” Trump said in August.
Still, the president has also publicly criticised Dimon and threatened to sue JPMorgan for “debanking”, but maintains more cordial relations with him.
During his Davos appearance on Wednesday, Dimon made comments supportive of Trump’s approach to Nato and Europe.
Moynihan appeared on a panel with Trump’s commerce secretary, Howard Lutnick, earlier on Wednesday.
A person familiar with the bank’s relationship with the White House said it had regular conversations with senior officials in Trump’s administration, including at Davos.
Moynihan visited Trump at the White House last summer after the president summoned major bank chiefs to discuss potential plans to list mortgage giants Fannie Mae and Freddie Mac. He was also at a state dinner organised around Trump’s visit to the UK in September.
Bank of America declined to comment. The White House did not immediately respond to a request for comment.
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