Phebe Novakovic and Brian Moynihan lead major American companies, but their careers began in different worlds. Novakovic moved from intelligence and national security into General Dynamics, while Moynihan trained as a lawyer before rising through banking to become Bank of America’s chief executive.
Their names sometimes appear together online, raising questions about a personal connection. Reliable public records do not establish that they are married, related, or business partners. Their documented overlap includes membership in the Business Roundtable, an organization of chief executives from major U.S. companies.
At a Glance
| Fact | Phebe Novakovic | Brian Moynihan |
|---|---|---|
| Documented name | Phebe Nevenka Novakovic | Brian Thomas Moynihan |
| Birth | November 1957 | October 9, 1959 |
| Age on October 31, 2026 | 68 | 67 |
| Nationality | American | American |
| Education | Smith College, 1979; Wharton MBA, 1988 | Brown University, 1981; Notre Dame JD, 1984 |
| Principal company | General Dynamics | Bank of America |
| Became CEO | January 2013 | January 2010 |
| Other significant role | JPMorgan Chase director since 2020 | Brown University chancellor since July 2024 |
Phebe Novakovic’s Family Background and Education
Public corporate records identify Novakovic by her full name, Phebe Nevenka Novakovic, and record her birth month as November 1957. Her American nationality and Serbian family heritage describe different parts of her background.
Her father was a Serbian immigrant who became a U.S. Air Force officer. In public accounts of her upbringing, Novakovic has connected his experience of opportunity in America with her own belief in national service.
Her mother, Phebe S. B. Novakovic, also had a career connected to military communities. Syracuse University’s 2023–2024 veterans affairs report recognized the elder Novakovic for teaching in Germany’s Department of Defense school system and supporting veterans through work at Temple University.
Novakovic spent part of her childhood in Germany. She has described developing an interest in opera through her grandmother, an early influence that remained part of her life beyond business.
She graduated from Smith College in 1979 and earned an MBA from the University of Pennsylvania’s Wharton School in 1988. Those two educational stages preceded different chapters of her working life: national security service and, eventually, corporate management.
From Intelligence Work to General Dynamics
Novakovic’s early professional experience included service in the Central Intelligence Agency. The publicly documented record confirms that employment but does not provide a full account of her assignments.
She later worked at the Office of Management and Budget, where she became deputy associate director. From 1997 to 2001, she served as special assistant to the secretary and deputy secretary of defense.
These positions placed her close to the government’s decisions about defense resources and priorities. They also gave her experience with the federal institutions that would become central customers in her corporate career.
The move into business did not unfold without setbacks. In an interview discussed by Croatian newspaper Večernji list, Novakovic recalled being rejected during a steel-industry job interview while visibly pregnant. She interpreted the abrupt encounter as a refusal to hire her.
In 2001, she joined General Dynamics. Her subsequent responsibilities included strategic planning, planning and development, and leadership of the Marine Systems business.
She later became president and chief operating officer. On January 1, 2013, she took over as chairman and chief executive officer, following a progression through both corporate strategy and operating management.
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Building and Managing a Defense Business
Novakovic assumed responsibility for a company with businesses spanning military equipment, shipbuilding, technology services, and Gulfstream business aircraft. Her leadership required balancing commercial aviation with government programs that operate on long development and procurement schedules.
One of her largest strategic decisions was the acquisition of government technology contractor CSRA in 2018. Defense News reported a transaction value of approximately $9.7 billion and explained that CSRA would become part of General Dynamics Information Technology.
The purchase expanded the company’s position in federal information technology services. It also involved a competitive challenge: rival contractor CACI made an offer, prompting General Dynamics to increase its bid before completing the acquisition.
Novakovic has publicly defended the purpose of the defense industry. In a 2021 interview reported by The Wall Street Journal and summarized by GovCon Wire, she framed the company’s work as supporting the security of the United States and its allies.
Her management comments have also emphasized teamwork. At the Economic Club of Washington in May 2016, she described leadership as a responsibility to the team and discussed a servant-leadership approach within General Dynamics.
The company’s later filings show that strong financial results existed alongside operational pressures. Its 2026 proxy statement described supplier difficulties, supply-chain disruption, government budget uncertainty, and changing spending priorities as factors affecting business planning.
General Dynamics reported approximately $52.6 billion in revenue for 2025. That figure measures the company’s sales, not Novakovic’s earnings or personal wealth.
Brian Moynihan’s Ohio Childhood and Legal Training
Moynihan was born in Marietta, Ohio, on October 9, 1959. He grew up as the sixth of eight children in an Irish American family.
In a 2009 interview with Irish America, he explained that his parents had moved to Marietta the month before his birth. His father was a chemist employed by DuPont, and earlier generations of the family had lived in upstate New York.
His family history also included lawyers. Moynihan said his grandfather practiced law, while both his grandfather and an uncle attended Notre Dame.
Moynihan chose Brown University for his undergraduate education, studying history and playing rugby. He graduated in 1981 before attending the University of Notre Dame Law School, where he earned his JD in 1984.
After law school, he returned to Providence, Rhode Island, and joined Edwards & Angell. Corporate legal work introduced him to banking transactions and the executives responsible for them.
Institutional Investor later reported that his work on acquisitions attracted the attention of Fleet’s leadership. That relationship helped open the next stage of his career.
Fleet, Bank of America, and the Financial Crisis
Moynihan joined Fleet in April 1993 as deputy general counsel. Over time, his responsibilities expanded beyond legal work into corporate strategy, brokerage, and wealth management.
Bank of America’s acquisition of FleetBoston Financial in 2004 brought him into the larger organization. He became president of its Global Wealth and Investment Management business and subsequently held other senior positions.
The financial crisis created a difficult turning point. According to Institutional Investor, changes surrounding the Merrill Lynch combination left Moynihan’s future uncertain, and he prepared to leave rather than relocate his family for a proposed assignment.
He remained after being appointed general counsel. Bank of America’s December 2008 announcement described the position as requiring both legal expertise and broad business knowledge during a period of financial upheaval.
Moynihan became chief executive officer in January 2010, succeeding Ken Lewis. He inherited a bank dealing with the consequences of the crisis and major acquisitions, including Merrill Lynch and Countrywide.
His tenure developed around the strategy Bank of America calls “Responsible Growth.” The bank uses that term to describe growth within its risk framework, supported by investment in employees, technology, and customer services.
His titles changed over time. Bank of America’s governance records distinguish his appointment as CEO in January 2010 from his appointment as board chair in October 2014. He also served as president until September 2025.
For 2025, the bank reported net income of $30.5 billion and revenue of $113.1 billion. Those results were among the factors its board cited when determining his compensation.
Marriages, Children, and Publicly Documented Family Life
Fortune reported that Novakovic married Michael Vickers in 1985; they later divorced, and she subsequently married David Morrison.
Public reporting also documents that she has three daughters. Morrison’s career included senior congressional work and a position as Boeing’s chief lobbyist.
Moynihan is married to Susan Berry, whom he met while attending Brown. The couple have three children, a family detail documented in Irish America’s reporting and later profiles.
Family considerations have affected his professional decisions. Institutional Investor’s account of his reluctance to accept a relocation assignment provides a specific example of family circumstances influencing a major career choice.
His connections to Ireland have also included family travel. In his 2009 Irish America interview, he recalled a 2008 trip with his parents, several siblings, and children.
Neither executive’s documented family history establishes a relationship with the other.
Compensation, Wealth, and Contributions Beyond Their Companies
Public filings provide reliable information about executive compensation, although they do not reveal a complete personal balance sheet.
General Dynamics’ 2026 proxy statement reported $25,924,082 in total compensation for Novakovic for 2025. That included $1,737,500 in salary, along with stock awards, options, incentive compensation, and other benefits.
Bank of America approved $41 million in performance-year compensation for Moynihan for 2025. His base salary remained $1.5 million, with the remainder consisting of equity-based incentives rather than a cash bonus.
These disclosures use different reporting frameworks. Bank of America explains that its performance-year compensation decisions can differ from its SEC summary compensation table because equity awards may be granted in a different calendar year.
Neither figure should be presented as net worth. A current, fully verified personal net-worth total for either executive was not established by the records reviewed.
Their outside activities extend into education, health, military families, and cultural institutions. Novakovic’s institutional biography lists service involving the National Military Family Association, Northwestern University, and Ford’s Theatre. Syracuse also records her participation in establishing an endowed scholarship honoring Lt. Col. Michael Novakovic.
Moynihan’s documented service includes the Haitian Project, YouthBuild Boston, and the Boys & Girls Clubs of Boston. He also chairs the Sustainable Markets Initiative and serves on the advisory council for the Smithsonian’s National Museum of African American History and Culture.
These organizational roles document participation and responsibility; they should not be converted into unsupported claims about personal charitable giving.
Their Latest Chapter: A Planned Handoff and Continuing Leadership
As of October 31, 2026, Novakovic remained General Dynamics’ chairman and CEO, with a leadership transition announced.
On October 7, the company said Danny Deep would become CEO effective January 1, 2027. Novakovic would move to executive chairman, continuing her involvement after the handoff.
Moynihan remained Bank of America’s chair and CEO. The bank’s October 14, 2026, third-quarter announcement identified him as the executive scheduled to discuss its results with investors alongside Chief Financial Officer Alastair Borthwick.
He also continued as Brown University’s 22nd chancellor, a volunteer position he began on July 1, 2024. The role leads the university’s governing body and carries responsibilities for policy and long-term planning.
Their careers show how long executive tenures develop through earlier work: Novakovic’s in government and defense operations, Moynihan’s in law and successive banking businesses. With one preparing a CEO transition and the other combining banking leadership with university governance, their next chapters center on the institutions they will help carry forward.
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