Date February 13, 2024
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Brian Moynihan to lead Brown Corporation as the University’s 22nd chancellor

The Corporation of Brown University has elected the 1981 Brown graduate, long-time trustee, and chair and CEO of Bank of America to lead Brown’s governing body, effective July 2024.

PROVIDENCE, R.I. [Brown University] — The Corporation of Brown University, the University’s governing body, has elected Brian T. Moynihan, a 1981 Brown graduate and chair and CEO of Bank of America, to serve as Brown’s 22nd chancellor. Effective July 1, 2024, Moynihan will succeed Samuel M. Mencoff, who has served as chancellor since 2016.

The chancellor is a volunteer role that leads the 54-member Brown Corporation. The Corporation is responsible for matters of policy and long-term planning and holds pivotal responsibilities including selecting the president, approving faculty appointments, setting the budget, tuition and salary pools, and approving strategic plans. The chancellor serves as one of four appointed officers, along with the vice chancellor, treasurer and secretary.

“It is an honor to serve Brown, the fellows and trustees, and especially the dedicated faculty, students, staff and alumni. I look forward to working with President Paxson and her team as we continue to elevate our great university.”

Brian T. Moynihan Brown’s 22nd Chancellor
Brian T. Moynihan

“It is an honor to serve Brown, the fellows and trustees, and especially the dedicated faculty, students, staff and alumni,” Moynihan said. “I look forward to working with President Paxson and her team as we continue to elevate our great university.”

Moynihan has been a member of the Corporation since 2010, serving for six years as a trustee and now in his eighth year on the Board of Fellows. He has served on multiple Corporation committees, as well as the Board of Governors of the Watson Institute for International and Public Affairs.

Mencoff announced Moynihan’s election in a Tuesday, Feb. 13, letter to the Brown University community. This followed months of work by the Governance and Nominating Committee of the Corporation, which is the subcommittee charged with recommending the next chancellor, and a formal vote during the Corporation’s recent February meetings.

“Throughout his years of dedicated service, Brian Moynihan has been an active and engaged member, and there is widespread appreciation and respect for his insight, global leadership and management experience, values and wisdom,” Mencoff wrote. “I am entirely confident that Brian will be a superb and dedicated leader for the Corporation and for Brown as chancellor.”

Mencoff is a Chicago investment executive and a member of the Corporation since 2003. He wrote that during the 2023-24 academic year, as he approached his eighth year as chancellor, he decided that the strength of the Corporation provides an opportunity to shift his time to other obligations.

“I decided that the deep well of experience and expertise of colleagues on the Corporation provides an opportunity for a strong leadership transition as I rebalance my time among my service obligations and family,” Mencoff wrote. “I look forward to expanding my service with my other nonprofit boards and to enjoying time with my growing family and ever-expanding roster of delightful grandchildren.”

Having served 21 years as a member of the Brown Corporation, Mencoff said he will always remain deeply committed to Brown.

“I have had the enormous privilege of working with the trustees and fellows and President Paxson through some of the most exhilarating and consequential times in Brown history,” he wrote. “Doing so has been the honor and privilege of a lifetime, but I also recognize that a healthy governing board must renew and refresh itself on a regular basis. Doing so at this time will position Brown to continue to advance its distinctive approach to teaching and research, its excellence, and its value to the world in the years to come.”

The Corporation, the name given in the Charter of the University, written in 1764, is composed of a group of appointed and elected volunteers dedicated to fulfilling the mission of Brown University. Members of the Corporation serve as ultimate fiduciaries of the University. In general, the Corporation governs matter of policy and does not become involved in the daily administration of the University.

About Brian T. Moynihan

Brian Moynihan is chair and CEO of Bank of America, a post he has held since January 1, 2010. Prior to becoming CEO, Moynihan served in various executive capacities since joining the company in 1993. Moynihan also chairs Bank of America's Global Diversity and Inclusion Council.

A history concentrator and member of the rugby team, Moynihan earned a bachelor of arts from Brown in 1981 and went on to earn his law degree from the University of Notre Dame. He was elected to serve on the Brown Corporation Board of Fellows after serving on the Board of Trustees from 2010 to 2016. Previously he served as a member of the President's Leadership Council.

Moynihan participates in several organizations that focus on economic and market trends, including the World Economic Forum's International Business Council (chair), the Financial Services Forum, the Bank Policy Institute, the Business Roundtable, the Clearing House (chair), the American Heart Association CEO Roundtable (co-chair), the Business Council and the Federal Advisory Council of the Federal Reserve Board. He is a member of the Catalyst Board of Directors, the Council on Competitiveness Board (chair), the Appeal of Conscience Board of Trustees, the Vatican Council for Inclusive Capitalism and co-chair of His Royal Highness The Prince of Wales' Sustainable Markets Initiative.

Moynihan works with public officials, businesses and civic leaders at the local level through his participation with the Massachusetts Competitive Partnership and the Partnership for Rhode Island. He is a member of the Museum Council for the Smithsonian's National Museum of African American History and Culture and has also worked with the Providence-based Haitian Project for many years. Moynihan has also served on the boards of YouthBuild Boston and the Boys and Girls Clubs of Boston.