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BofA's Bessant says to spend $600 million on information security: CNBC
October 4, 2017 / 8:08 PM / 12 days ago

BofA's Bessant says to spend $600 million on information security: CNBC

A Bank of America sign is pictured in Pasadena, California, U.S., September 6, 2017. REUTERS/Mario Anzuoni

(Reuters) - Bank of America Corp’s chief operations and technology officer Cathy Bessant said on CNBC that the bank would spend $600 million on information security this year.

She also added that BofA would spend the same amount in 2018, and that it has 1,200 employees “dedicated to that effort”.

Reporting by Sangameswaran S in Bengaluru; Editing by Martina D'Couto

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