Bank of America’s Headcount Rises for First Time in a Decade (1)

Bank of America Corp.’s headcount is up for the first time in 10 years.

The company’s 3,600 net additions last year included thousands of employees from low- and moderate-income areas, Chief Executive Officer Brian Moynihan said in a memo to staff Friday. The lender also reached a goal of adding 10,000 military veterans over five years.

“We begin 2020 strong,” said Moynihan, who took the helm a decade ago. “It is a nice start,” he said, citing the bank’s initiatives on technology, philanthropy and $1.7 billion of capital investments in branches and other facilities.

Brian Moynihan.

Photographer: Mark Kauzlarich/Bloomberg

The increase in staffing ...