Picture two CEOs. One builds nuclear submarines for the U.S. Navy. The other runs a bank that touches millions of household budgets. Both have held the top job for well over a decade. That rare staying power explains why readers keep searching for phebe novakovic and brian moynihan in the same breath.
This guide covers who they are, how they climbed, what they earn, and what their careers teach. You’ll also find tables, case studies, and plain-English takeaways. One timely note first: Novakovic hands the CEO title to a successor on January 1, 2027, so her story is entering a new chapter.
Who Are Phebe Novakovic and Brian Moynihan?
Phebe Novakovic is chair and CEO of General Dynamics, one of the world’s largest aerospace and defense companies. Brian Moynihan is chair and CEO of Bank of America, the second-largest U.S. bank. Their industries look nothing alike. Yet both lead giant, heavily regulated institutions where one bad decision can cost billions.
Quick Snapshot: Phebe Novakovic and Brian Moynihan
| Detail | Phebe Novakovic | Brian Moynihan |
|---|---|---|
| Company | General Dynamics | Bank of America |
| Industry | Aerospace and defense | Banking and financial services |
| Current role | Chair and CEO (becomes executive chairman Jan. 1, 2027) | Chair and CEO |
| CEO since | 2013 | January 2010 |
| Company scale | $52.6 billion in fiscal 2025 revenue | $30.5 billion in 2025 net income |
| Workforce | More than 100,000 employees | Among the largest in U.S. banking |
| Best-documented pay or wealth figure | Roughly $264.5 million in General Dynamics stock (March 2026) | $41 million total pay for 2025 |
Why Readers Compare These Two CEOs
Several threads connect them. Both chair the board as well as run the company. Both keep a low public profile compared with flashier executives. Novakovic also serves as a director at JPMorgan Chase, which links the defense and banking worlds directly.
Phebe Novakovic: From Government Service to General Dynamics
Novakovic didn’t start in a corner office. She started in national security. That background shaped how she reads risk, politics, and long-range planning.
Education and Early Career
Novakovic graduated from Smith College and the Wharton School at the University of Pennsylvania, according to Virginia Business. She then worked as a CIA officer. Later she served as special assistant to the secretary and deputy secretary of defense, a detail ExecutiveGov confirms.
That résumé gave her two advantages. She understood the Pentagon from the inside. She also learned to make decisions with incomplete information.
Rising Inside General Dynamics
She joined General Dynamics in 2001. Over the next twelve years she moved through senior finance and strategy roles. In 2013 the board named her chair and CEO.
Here’s a quick timeline:
- Before 2001: CIA officer and Defense Department adviser
- 2001: Joins General Dynamics
- 2013: Becomes chair and CEO
- 2019: Company wins the Navy’s largest-ever shipbuilding contract
- 2026: Chairs the Aerospace Industries Association board of governors
- January 1, 2027: Moves to executive chairman
Case Study: The Submarine Contract
The challenge: The Navy needed a new generation of nuclear submarines. The program would run for decades and demand flawless execution.
The result: In 2019 General Dynamics won a contract worth up to $24.2 billion, with Newport News Shipbuilding as a subcontractor. In March 2026 its Electric Boat unit added a $15.3 billion contract modification to keep building Columbia-class submarines.
The lesson: Defense leadership rewards patience. Novakovic built relationships and delivery records that paid off over years rather than quarters.
Recognition and Industry Influence
Fortune ranked her No. 30 on its 2026 list of the 100 Most Powerful Women in business. She sat at No. 36 in 2025. She also chairs the Association of the United States Army board and leads the Aerospace Industries Association board for 2026. She succeeded L3Harris chief Christopher Kubasik in that post.
Phebe Novakovic Net Worth
Her wealth comes mostly from stock. MarketBeat lists 766,457 General Dynamics shares worth more than $264.5 million as of March 2026. The same page reports a CEO salary of $6.69 million and about $11.7 million in share sales over time.
| Net worth indicator | Figure |
|---|---|
| General Dynamics shares held | 766,457 |
| Estimated value of those shares | More than $264.5 million |
| Reported annual salary | $6.69 million |
| Total stock sold (insider records) | About $11.7 million |
Treat the total as a floor. It captures her company stock only. It leaves out real estate, other investments, and cash. Some websites cite $100 million or $200 million with no sourcing. The share-based figure carries far more weight.
What Comes Next for Novakovic
General Dynamics picked Danny Deep, a 25-year company veteran, as its next CEO. He has served as president since December 2025. Novakovic becomes executive chairman on January 1, 2027. GovConWire quotes her saying she’s certain he “will be an outstanding CEO.”
This is a textbook handoff. The outgoing leader stays involved while the new one takes the wheel.
Brian Moynihan: Leading Bank of America Through Transformation
Moynihan took the opposite route. He grew up inside the banking system and rose through acquisitions, crises, and reorganizations.
Education and Entry into Banking
Moynihan earned his undergraduate degree at Brown University and his law degree at Notre Dame. He joined FleetBoston Financial in April 1993. Bank of America acquired Fleet in 2004. Moynihan came along with the deal.
The Climb to CEO
His path touched nearly every part of the bank. According to BankTech, he led global wealth and investment management after the merger. From 2007 to 2009 he ran global corporate and investment banking. Then he took over consumer and small business banking.
The board named him CEO at age 50. He said he was “honored to have the opportunity to lead this important company.”
Case Study: Taking the Reins After the Crisis
The challenge: Bank of America ended 20 straight years of profits with two quarterly losses. The Merrill Lynch purchase drew heavy political heat. City AM noted that a congressional committee even criticized Moynihan’s early performance.
The response: Moynihan promised to “refocus our efforts and attention on those core capabilities,” per Plan Adviser. He trimmed businesses and tightened risk controls. He also pushed the bank toward steady, organic growth.
The result: The bank returned to strong profitability. It reported $30.5 billion in net income for 2025.
The lesson: In a crisis, a boring plan executed well beats a bold plan that falls apart.
The 2025 Scorecard
Bank of America’s 2026 proxy statement highlights these results:
- Net income rose 13% to $30.5 billion
- Diluted earnings per share jumped 19% to $3.81
- Record net interest income, up 7%
- Investment banking fees up 7% and asset management fees up 12%
- About 680,000 net new checking accounts
- Net charge-off ratio of 0.50%
Brian Moynihan Net Worth and Pay
Moynihan’s compensation is public and easy to verify. The board set his 2025 total pay at $41 million, up from $35 million in 2024. Fortune reports his base salary stays at $1.5 million with no cash bonus. Equity awards make up the other $39.5 million.
| Year | Total compensation |
|---|---|
| 2024 | $35 million |
| 2025 | $41 million (up 17%) |
Net worth estimates vary more. Published figures run from tens of millions to roughly $300 million. A realistic picture puts his wealth in the low hundreds of millions, built on years of stock-based pay at Bank of America. Exact totals depend on his holdings, which change with every grant and share price move.
Will Moynihan Step Aside Soon?
Not yet. At 66 he has said he’ll stay until the board decides otherwise. He began his 17th year as CEO in 2026. He told Bloomberg that a succession list exists, but he won’t share names. His longevity makes him one of the longest-serving leaders of any large U.S. bank.
Phebe Novakovic and Brian Moynihan: A Comparison
Reading phebe novakovic and brian moynihan side by side reveals sharp contrasts. It also reveals surprising overlaps.
| Category | Novakovic | Moynihan |
|---|---|---|
| Background | CIA, Pentagon, then defense industry | Law, then banking from the ground up |
| Route to CEO | Joined at 2001 and promoted in 2013 | Joined through acquisition and promoted in 2010 |
| Tenure as CEO | 13 years through 2026 | 16-plus years |
| Board style | Chair and CEO now and executive chair next | Chair and CEO |
| Succession plan | Danny Deep named for Jan. 1, 2027 | List exists and no date announced |
| Primary customer | U.S. government and global buyers | Consumers, businesses, and institutions |
| Wealth driver | General Dynamics stock | Equity awards and stock |
Pay in Peer Context
Moynihan’s $41 million sits in the middle of the pack among big bank bosses. JPMorgan’s Jamie Dimon received $43 million. Citigroup’s Jane Fraser took home $42 million. Goldman Sachs’ Charlie Scharf got $40 million, according to ThinkAdvisor.
Different Industries, Similar Leadership Challenges
Defense and banking seem worlds apart. But the daily problems rhyme.
Regulation Never Sleeps
Novakovic answers to the Pentagon and Congress. Moynihan answers to the Federal Reserve and other banking regulators. Both must prove compliance constantly. A single failure invites hearings and headlines.
Long Cycles and Big Bets
Submarines take years to build. A bank’s capital plan stretches across multiple economic cycles. Each CEO must commit billions without knowing exactly what the world will look like in five years.
The People Problem
General Dynamics employs more than 100,000 people. Bank of America employs a similar army across branches, trading floors, and tech teams. Keeping that many people aligned takes clear priorities and repeated communication.
The Role of Technology in Their Leadership
Technology touches both companies, though in different ways.
Moynihan’s Automation Push
Moynihan has openly said that artificial intelligence and automation help control expenses and headcount. The bank pairs that tech with digital growth. Customers moved hundreds of millions of person-to-person payments through its apps in 2024.
General Dynamics and Digital Defense
General Dynamics runs a large IT arm, General Dynamics Information Technology. Its leadership changed this fall when Amy Gilliland stepped down as president after leading the 26,000-person unit since 2017, per Virginia Business. Novakovic’s team must balance legacy hardware with software-driven warfare.
Shared takeaway: Technology isn’t a side project for either leader. It decides who wins contracts and who keeps customers.
Corporate Governance and Board Responsibilities
Both leaders hold dual roles. Moynihan has chaired Bank of America’s board since October 2014. Novakovic chairs General Dynamics now.
How They Handle Outside Boards
Novakovic’s outside commitments include:
- JPMorgan Chase (corporate director)
- Center for Strategic and International Studies
- Association of the United States Army (chair)
- Aerospace Industries Association (chair of governors for 2026)
Moynihan chairs the Sustainable Markets Initiative and serves on the Bank Policy Institute board, according to the proxy statement.
Pay Tied to Performance
Bank of America ties Moynihan’s equity to long-term targets. To earn the maximum payout, the bank must generate $112 billion in combined net income from 2026 through 2028. That equals roughly $37 billion a year at the top level. It’s higher than any annual profit the bank has ever posted.
Leadership During Periods of Change
Change defines both careers. Each leader handled it differently.
Moynihan: Steady Hands in Turbulence
He took over amid a financial meltdown. He later steered the bank through the pandemic. His style leans toward discipline and consistency. He rarely chases headlines.
Novakovic: Riding the Defense Budget Waves
Defense spending moves with politics. In January 2026 General Dynamics stock climbed 3% after a proposal for a $1.5 trillion military budget. Novakovic has to plan for both spending surges and sudden freezes.
Succession as a Leadership Skill
Few moments test a CEO like handing over power. General Dynamics tested Deep across several divisions. He led Land Systems from 2020 to 2024 and served as executive vice president of global operations. The board also announced the move months before the effective date. That gives employees and investors time to adjust.
Think of it like a relay race. The best handoffs happen while both runners are moving.
What Their Careers Teach About Executive Leadership
You don’t need a Fortune 500 title to use these lessons.
Five Practical Takeaways
- Build range early. Both leaders held many roles before reaching the top.
- Stay close to operations. Deep’s operations background shows what Novakovic values.
- Plan succession years ahead. A smooth handoff protects customers and morale.
- Tie rewards to results. Moynihan’s pay depends on earnings targets.
- Play the long game. Submarines and bank balance sheets both punish short-term thinking.
A Tip You Can Try This Week
Pick one skill outside your current role. Spend an hour a week learning it. Moynihan didn’t become CEO by mastering one lane. He learned wealth management, investment banking, and consumer banking along the way.
Phebe Novakovic and Brian Moynihan: Two Paths to the Top
Novakovic took the government route. She moved from the CIA and the Pentagon into the defense industry. Moynihan took the insider route. He rose through acquisitions and crises inside banking.
Their numbers tell the same story of staying power. Novakovic holds an estimated $264.5 million in company stock. Moynihan earned $41 million in 2025 alone. Both lead organizations that shape national security or the national economy.
Now watch what happens next. Novakovic moves into the executive chairman seat on January 1, 2027. Moynihan keeps his hands on the wheel. How each manages these transitions will shape their legacies.
FAQs: Phebe Novakovic and Brian Moynihan
What is Phebe Novakovic’s net worth?
Her General Dynamics shares alone were worth more than $264.5 million as of March 2026, per MarketBeat. Her total net worth likely runs higher.
What is Brian Moynihan’s net worth?
Public estimates vary widely. His 2025 pay of $41 million and years of equity awards point to wealth in the low hundreds of millions.
How much does Brian Moynihan earn?
He earned $41 million in 2025. That included a $1.5 million salary and $39.5 million in stock awards.
Is Phebe Novakovic still CEO of General Dynamics?
Yes. She remains CEO until January 1, 2027. Then she becomes executive chairman and Danny Deep takes over as CEO.
How long has Brian Moynihan led Bank of America?
He became CEO in January 2010 and chair in October 2014.
Which CEO has served longer?
Moynihan has led for more than 16 years. Novakovic has served as CEO since 2013.
Does Phebe Novakovic sit on any bank boards?
Yes. She serves as a corporate director at JPMorgan Chase.
