David Ricks and Brian Moynihan: The CEOs Behind the GLP-1 Boom
One of them sells the most talked-about drugs on earth. The other pays for them — to the tune of $250 million a year. Eli Lilly CEO David Ricks and Bank of America CEO Brian Moynihan are the two executives defining the GLP-1 era from opposite sides of the table.
Here is how the pharma chief and the banking chief compare — and the surprising link between them.
The Quick Answer
David Ricks (Eli Lilly) and Brian Moynihan (Bank of America) are two of America’s most influential CEOs — connected by the weight-loss drug boom. Ricks, Lilly’s CEO since 2017, turned Mounjaro and Zepbound into a cultural phenomenon and was named Chief Executive magazine’s 2025 CEO of the Year by a peer committee that included Moynihan. Moynihan, who has run Bank of America since 2010, revealed in 2026 that the bank spends over $250 million a year covering GLP-1 drugs — including Lilly’s Zepbound — for its 211,000 employees. One makes the drugs; the other foots the bill.
Who Is David Ricks?
Dave Ricks became CEO of Eli Lilly in January 2017, inheriting a solid but unflashy drugmaker. Under his leadership, Lilly bet big on incretin biology — and won spectacularly: Mounjaro (for diabetes) and Zepbound (for obesity) became blockbusters, making Lilly one of the world’s most valuable companies. Ricks, an Indiana native who joined Lilly in 1996, was named Chief Executive magazine’s 2025 CEO of the Year, chosen by fellow chief executives. (Chief Executive via PR Newswire)
Who Is Brian Moynihan?
Brian Moynihan took over Bank of America on January 1, 2010 — in the smoking ruins of the financial crisis, after the bank’s $45 billion bailout. A Rhode Island lawyer who joined via the FleetBoston merger, the Irish-American executive spent 15+ years rebuilding BofA into a leaner, more profitable giant, championing responsible growth and a $2 billion-a-year employee healthcare commitment.
The GLP-1 Link
The connection is dollars and doses. In a 2026 CNBC interview, Moynihan disclosed that Bank of America now spends “about $250 million or more” annually on GLP-1 medications — Ozempic, Wegovy, and Lilly’s Zepbound — up from zero just a few years earlier, calling it a good investment in employee health. GLP-1s now account for roughly 13% of the bank’s total healthcare spending.
And the ties run deeper: BofA’s investment arm holds about $13.5 billion in Eli Lilly stock (a Q2 2026 SEC filing), making Lilly one of its largest positions. Moynihan literally sat on the peer committee that crowned Ricks 2025 CEO of the Year. The banker and the drugmaker are, financially speaking, in business together.
Side-by-Side Comparison
| David Ricks | Brian Moynihan | |
|---|---|---|
| Company | Eli Lilly | Bank of America |
| CEO since | 2017 | 2010 |
| Signature achievement | Mounjaro/Zepbound boom | Post-crisis bank turnaround |
| 2025 honor | CEO of the Year | Sat on the selection committee |
| GLP-1 role | Makes Zepbound | Spends $250M+/yr covering it |
| Background | Lilly lifer since 1996 | Lawyer via FleetBoston merger |
FAQs
What is the connection between David Ricks and Brian Moynihan?
Moynihan sat on the peer-CEO committee that named Ricks 2025 CEO of the Year, and Bank of America spends over $250 million annually covering GLP-1 drugs including Lilly’s Zepbound — while holding ~$13.5B in Lilly stock.
Who is the CEO of Eli Lilly?
David Ricks, CEO since January 2017.
Who is the CEO of Bank of America?
Brian Moynihan, CEO since January 2010.
How much does Bank of America spend on weight-loss drugs?
Over $250 million a year on GLP-1 medications for employees, per Moynihan’s 2026 CNBC interview — about 13% of the bank’s healthcare spending.
Another CEO comparison: Mike Krieger and Vicki Hollub: Leadership, Careers & Comparison.
Final Word
Ricks created the defining drugs of the decade; Moynihan writes the checks that put them in medicine cabinets. Different industries, same story: two long-tenured CEOs who bet big, executed patiently, and ended up shaping how America lives — and what it weighs.
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