American lawyer and banker; chairman, president and CEO of Bank of America since 2010
Bank of America has expanded its GLP-1 weight-loss drug program, dedicating over $250 million annually to the benefit for about 211,000 employees as healthcare costs rise. The program is part of a broader employer trend as demand for GLP-1s grows, with debates over coverage and price shaping corporate policy.
JPMorgan Chase Chief Executive Jamie Dimon has warned that market leverage remains elevated, with hidden borrowing amplifying potential disruptions as analysts scrutinise leveraged ETFs and AI-driven bets. The remarks come amid recent stress at Situational Awareness and regulatory moves in Korea.
Companies are reviewing coverage for GLP-1 weight-loss drugs as costs rise. Some have already trimmed benefits, while others cite long-term employee health benefits as a reason to maintain or adjust coverage. The trend could raise healthcare costs for employers and influence benefits strategies.
Bank of America, Morgan Stanley and peers are delivering Q3 results amid a backdrop of higher interest rates and volatile markets. Analysts expect mixed outcomes on revenue and profits, with trading and investment banking performance in focus across the sector.