Phebe Novakovic and Brian Moynihan lead two of America’s most powerful companies, so why do so many people search their names together? Here is the direct answer. Novakovic is chairman and CEO of General Dynamics, Moynihan holds the same titles at Bank of America, and no published source shows a family or business tie between them.
The real story has a twist: General Dynamics announced on October 7, 2026, that Danny Deep will take over as CEO on January 1, 2027. Keep reading to see what that means, what Bank of America just reported, and the one fact that does link these two leaders.
Key takeaways
- Novakovic is still CEO today. The handover to Deep comes on January 1, 2027.
- Moynihan is still chairman and CEO, but a $1.2 billion fine just dented Bank of America’s quarter.
- The only documented link between them is a seat on the JPMorgan Chase board.
- General Dynamics reports third-quarter results on October 30, 2026, so the numbers below will soon be one quarter old.
Phebe Novakovic and Brian Moynihan: Quick Answer
Who are they? Novakovic runs one of the biggest aerospace and defense companies in the United States. Moynihan runs one of its biggest consumer banks. Are they related? No evidence says so.
Do they work together? No. They lead competing worlds, defense manufacturing and retail banking, and they cross paths only through boards, business groups, and lists of powerful executives.
That answer is short, but the details behind it are what make this story worth your time. Start with the side-by-side facts.
Quick Bio Table
| Detail | Phebe Novakovic | Brian Moynihan |
| Main company | General Dynamics | Bank of America |
| Industry | Aerospace and defense | Banking and financial services |
| Current role | Chairman and CEO | Chairman and CEO |
| Leading since | CEO since January 2013 | CEO since January 2010, chairman since October 2014 |
| Age | 68 | 67 |
| Education | Smith College (1979), Wharton MBA (1988) | Brown University (1981), Notre Dame law degree |
| Notable outside role | JPMorgan Chase director | Chancellor of Brown University |
| What comes next | Executive chairman from January 1, 2027 | No retirement date announced |
Now let us look at each leader, beginning with the one whose job is about to change.
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Who Is Phebe Novakovic?
Phebe Novakovic is chairman and chief executive officer of General Dynamics, the Reston, Virginia company behind Gulfstream jets, Abrams tanks, and nuclear submarines.
Fortune describes her as an executive who avoids the spotlight, the daughter of an Air Force officer, and a former CIA employee. That low profile is one reason her name keeps appearing next to better-known CEOs. To understand why, you need to know where she started.
Early Life and Education
Novakovic earned her undergraduate degree at Smith College in 1979 and an MBA from the Wharton School in 1988. She is of Serbian descent, which several profiles mention.
Career Before General Dynamics
Her route into defense leadership began in government, not on a factory floor. She served in the Central Intelligence Agency, worked as a deputy associate director at the Office of Management and Budget, and was special assistant to the secretary and deputy secretary of defense from 1997 to 2001.
Fortune reports she was a CIA operations officer, though she rarely discusses it. Intelligence, federal budgeting, and Pentagon experience is an unusual mix for a corporate chief, and it helps explain her ease with government customers.
Career at General Dynamics: Timeline
| Years | Role |
| 2001 | Joined General Dynamics |
| 2002 to 2005 | Vice president, strategic planning |
| 2005 to 2010 | Senior vice president, planning and development |
| 2010 to 2012 | Executive vice president, Marine Systems |
| 2012 | President and chief operating officer |
| 2013 to present | Chairman and CEO |
The company’s proxy disclosures confirm this progression. The Marine Systems years matter because that segment builds submarines and ships, a business where delivery performance matters more than presentations.
When she became CEO in January 2013, the market faced sequestration and falling military demand, and she brought a disciplined approach to operations and cash.
Board and Other Roles
She has served on the JPMorgan Chase board since 2020, sitting on its Audit and Public Responsibility committees, and she was an Abbott Laboratories director from 2010 to 2021. She also chairs the Association of the United States Army and Ford’s Theatre, and serves as a trustee of Northwestern University.
Pay and Recognition
General Dynamics reported her total compensation for 2024 at about $23.8 million, mostly stock awards tied to performance. Fortune noted in 2025 that General Dynamics was among the few large government contractors whose funding was not touched by DOGE cuts.
That brings us to the company she has led for almost fourteen years.
General Dynamics at a Glance
General Dynamics covers four areas. Its portfolio spans business aviation, ship construction and repair, land combat vehicles with weapon systems and munitions, and technology products and services. It employs more than 120,000 people and generated $52.6 billion in revenue in 2025.
- Revenue grew from $31 billion in 2017 to $52.6 billion in 2025, and the company made its largest-ever acquisition in 2018 by buying CSRA for $9.7 billion.
- In the second quarter of 2026, revenue reached $14.1 billion, up 8.1%, with diluted earnings per share of $4.24 and a book-to-bill ratio of 1.4 to 1. That ratio means new orders are arriving far faster than the company delivers work.
- Reports put its backlog at a record $136.5 billion, and management raised its full-year earnings per share outlook to between $16.80 and $16.90, its second raise of 2026.
- In July 2026, the Navy awarded $76.6 billion in submarine contracts, including $29.5 billion for five Columbia-class submarines and $42.1 billion for nine Virginia-class submarines. Electric Boat said the awards give it the demand certainty needed to keep investing in capacity and hiring.
The company is not free of controversy. Some shareholders have objected to the use of its weapons in Gaza and to its role in producing key components of nuclear weapons. Anyone researching defense stocks should weigh that debate.
Novakovic’s story is only half of the search. Now meet the banker.
Who Is Brian Moynihan?
Brian Moynihan is chairman and CEO of Bank of America, the Charlotte-based lender. The bank has more than 210,000 employees, and Moynihan is also the 22nd Chancellor of Brown University. His route to the top began in a law office, not a trading floor.
Education and Early Career
Moynihan was born on October 9, 1959, in Marietta, Ohio, studied history at Brown, and later earned his law degree at Notre Dame Law School. He began as a corporate lawyer in Providence, Rhode Island.
One correction matters here, because several popular pages get it wrong: Moynihan joined FleetBoston Financial in 1993, and Bank of America acquired Fleet in 2004. He did not start at Bank of America itself.
How Brian Moynihan Became CEO and Chairman
He became CEO of Merrill Lynch after its sale to Bank of America in 2008, then took charge of consumer and small business banking in January 2009. The board then chose him as CEO after Ken Lewis stepped down, and he started in 2010.
He added the chairman title in October 2014. That combination drew criticism, and in 2015 about 63 percent of shareholders backed giving the board authority to decide whether one person holds both roles.
Crisis Years and Results
Moynihan spent his first year making sure the bank had enough capital, including a controversial $5 billion investment from Warren Buffett, and he later fought off calls to break up the bank.
Fortune credits him with helping the bank earn $200 billion in profit over the ten years from 2014, including $29 billion in 2023. As of September 2025, he was the longest-serving chief of a big U.S. bank after JPMorgan’s Jamie Dimon.
Pay and Other Leadership Roles
His 2023 total compensation was $27.8 million, and reports put his 2024 pay near $35 million, a 21 percent increase. Check the latest proxy statement before quoting that figure elsewhere. He chairs The Clearing House Association and takes part in the Financial Services Forum, the Bank Policy Institute, the Business Council, and the World Economic Forum’s International Business Council. He joined Brown’s Fellows in 2016 and became Chancellor in 2024.
Next, the bank he runs, because its latest quarter tells a more dramatic story than most readers expect.
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Bank of America at a Glance
Bank of America serves consumers, small businesses, corporations, and investors through consumer banking, wealth management, global banking, and global markets. The latest verified quarter is the third quarter of 2026, reported on October 14.
- Revenue rose 3% to $30 billion, helped by an 8% rise in net interest income to $16.4 billion.
- Net income was $6.9 billion, or 91 cents a share, after a $1.2 billion regulatory settlement charge tied to anti-money laundering matters. Adjusted net income was $8.1 billion.
- Average deposits reached $2.02 trillion and average loans reached $1.23 trillion.
- Wealth management revenue grew 13%, while investment banking fees and fixed income trading weakened. Equities revenue hit a record for a third quarter at $2.5 billion.
- Revenue of $29.96 billion came in below the FactSet consensus of $30.58 billion.
The result is a mixed picture: strong lending and wealth management, a heavy legal charge, and softer deal-making. So what, if anything, ties these two leaders together?
What Connects Phebe Novakovic and Brian Moynihan?
The connection is structural, not personal. Both are chairpersons and CEOs of household-name companies, both appear on powerful executive lists, and both belong to the wider world of business associations and university boards.
The one formal link is that Novakovic sits on the JPMorgan Chase board. A director at one bank does not work for its rival, so this gives her no role at Bank of America and no part in Moynihan’s decisions.
Are Phebe Novakovic and Brian Moynihan Related or Business Partners?
No. I found no reporting that shows a family relationship, a joint venture, or a shared investment between them. General Dynamics and Bank of America are separate public companies in different industries. If a website claims a close personal tie, ask for its source, because the verifiable record does not show one.
Why Are People Searching for Phebe Novakovic and Brian Moynihan Together?
This section is interpretation, not documented fact. People often search two names together after seeing them in the same list, the same pay ranking, or the same news cycle. Right now both are in October 2026 headlines: one is preparing to hand over the top job, and the other just reported mixed results and a record-sized fine.
Some readers want to compare pay, others want to know whether either is stepping down, and many are confused by pages that describe the General Dynamics handover as already finished. It is not. She remains CEO until December 31, 2026.
Comparing Their Leadership and Industries
Career Comparison Table
| Category | Phebe Novakovic | Brian Moynihan |
| Company | General Dynamics | Bank of America |
| Starting point | Government, intelligence, planning | Law, then banking |
| Time as CEO | Since 2013, almost 14 years by the handover | Since 2010, nearly 17 years |
| Latest pay figure | About $23.8 million (2024) | About $35 million reported (2024) |
| Latest quarter | $14.1 billion revenue (Q2 2026) | $30 billion revenue (Q3 2026) |
| Main risk focus | Delivery, supply chains, government budgets | Credit, interest rates, regulation, cyber risk |
| Succession status | Announced: Danny Deep from January 1, 2027 | No date announced |
Decision Making and Risk
Novakovic’s decisions play out over multi-year programs such as submarines, vehicles, and business jets, where a delay shows up directly in results. Moynihan’s decisions run on interest rates, loan quality, and regulators. His biggest recent surprise came from compliance, not from lending.
Governance and Succession
Both hold the combined chairman and CEO title that some investors dislike. General Dynamics has chosen a managed handover with the outgoing CEO staying on as executive chairman. Bank of America has not named a date, but it has signaled who is in line, as the section below explains.
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Recent Leadership Developments (October 2026)
The most important news about these two leaders arrived within the same fortnight. Here is what actually happened.
General Dynamics: Danny Deep Succeeds Novakovic
The announcement
On October 7, 2026, the board elected Danny Deep, then company president, as CEO effective January 1, 2027. Deep succeeds Novakovic, who becomes executive chairman after serving as CEO since 2013. Until that date, nothing changes at the top.
Who Danny Deep is
Deep is 56 and joined the board in August. He has been with the company for 25 years. Before becoming president in 2025, he served as executive vice president of Global Operations, executive vice president of Combat Systems, and president of Land Systems. In plain terms, he comes from the part of the business that builds and delivers.
What both sides said
Novakovic called Deep a highly skilled executive with rich operating experience and said she looks forward to continued collaboration. The board’s lead director, Laura Schumacher, credited her with a clear strategic vision and a strong leadership team. The tone points to continuity rather than a change of direction.
What an executive chairman does
The role usually means the former CEO stays on the board as a senior adviser and leads board matters, while the new CEO runs daily operations. General Dynamics has not published a detailed job description beyond the announcement, so treat that as the general pattern, not a confirmed list of duties.
The timing question
The board acted less than a week after Amy Gilliland, a GD veteran of nearly two decades, left her post as president of the IT services unit. The company has since named Amy Johnson president of GDIT. I found no source linking the two events, so do not read more into the timing than the facts allow.
What Deep inherits
A record backlog of about $136.5 billion, the July submarine contracts worth $76.6 billion, and a business that has grown from $31 billion in revenue in 2017 to $52.6 billion in 2025. He also inherits pressure to convert that backlog into deliveries. The stock closed at $326.63 on announcement day, down 1.42%, and Barron’s ran a piece arguing that a new CEO alone will not fix the problems facing defense stocks.
What to watch next
General Dynamics reports third-quarter results on October 30, before the market opens, and analysts expect about $4.13 per share on revenue near $13.73 billion. That report will be one of Novakovic’s last as CEO, and the results will show whether Deep inherits momentum or a harder road.
Bank of America: Fine, AI Cyber Risk and Succession
The fine
The U.S. Treasury fined Bank of America $1.2 billion for failing to mitigate and report serious national security risks, including Chinese money laundering networks and illicit finance along the southwest border. That fine is the settlement charge that cut reported third-quarter profit.
The AI cyber push
Moynihan told CNBC the bank hired 1,000 more contractors in the second quarter to fix vulnerabilities found by advanced AI models, on top of 3,000 people already in that area, and said Anthropic’s Mythos was among the models used. He also said the bank spent more than a couple of hundred million dollars in the third quarter on software remediation and anti-money laundering compliance.
The economy
On the consumer side, Moynihan said consumers continue to spend, pointing to a 5% rise in money movement so far this year. At a college forum, he added that higher rates and government debt complicate the outlook.
The succession
In September 2025, the bank named Dean Athanasia, who runs retail and commercial banking, and Jim DeMare, who runs global markets, as co-presidents, and promoted CFO Alastair Borthwick to executive vice president.
A Wells Fargo banking analyst called it a contest among three highly respected executives, and Moynihan said he would like to stay until the end of the decade. I found no announced retirement date as of October 29, 2026.
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What Can We Learn From Their Careers?
First, there is no single path to the top. Novakovic rose through government and strategy, Moynihan through Law and retail banking. Second, long tenure is rare and valuable: both have led for well over a decade.
Third, succession is now the main storyline. One company has announced its plan with a date. The other has signaled candidates but not a timeline. If you follow either stock or either industry, those handovers will matter more than most quarterly numbers.
Final Takeaway
Phebe Novakovic and Brian Moynihan lead very different companies, and the record shows no personal or business partnership between them. What is current and verified: Novakovic hands the CEO job to Danny Deep on January 1, 2027, and Moynihan is steering Bank of America through mixed results, a $1.2 billion fine, and an AI-driven cyber push.
FAQ’s
What does Phebe Novakovic do?
She is chairman and CEO of General Dynamics. She has held the CEO role since January 1, 2013. She will become executive chairman on January 1, 2027.
What does Brian Moynihan do?
He is chairman and CEO of Bank of America. He has been CEO since 2010. He is also Chancellor of Brown University.
Is Phebe Novakovic still CEO of General Dynamics?
Yes, as of October 29, 2026. Danny Deep takes over on January 1, 2027.
Who will replace Phebe Novakovic?
Danny Deep, the company’s president, was elected to succeed her.
When does Danny Deep become CEO?
January 1, 2027.
What is an executive chairman?
It usually means a former CEO who stays on the board in a senior role while the new CEO runs daily operations. The exact duties are set by each company.
Is Brian Moynihan retiring?
I found no announced retirement date. He has said he would like to stay until the end of the decade.
Why did Bank of America take a $1.2 billion charge?
It was a regulatory settlement tied to anti-money-laundering matters.
Are Phebe Novakovic and Brian Moynihan related?
No evidence shows that they are.
Do they work for the same company?
No. She leads General Dynamics, and he leads Bank of America. She sits on the board of JPMorgan Chase, which is a different bank.
Where did they study?
Novakovic attended Smith College and the Wharton School. Moynihan attended Brown University and Notre Dame Law School.
I’m Elyon Marwood, the voice behind BlessWithUs. Writing has always been more than just words for me; it’s a way to share faith, spread hope, and bring light into someone’s day. Through heartfelt blessings, meaningful prayers, and uplifting messages, I create moments that help you slow down, feel at peace, and reconnect with what truly matters. Every piece I write carries a purpose to comfort your heart, strengthen your faith, and remind you that even in the quietest moments, you are deeply guided, loved, and blessed.
