Brian Moynihan has been appointed as the new Chief of the Bank of America, and he has taken the reins of the troubled bank into his hands in one of most turbulent and crisis ridden conditions, but the background lawyer seems to be restricting his public commenting on the strategy he is looking to follow to one world - Execute.

"It's just about execution", he has been quoted as saying. And the word has been used by Mr. Moynihan at least thrice in interviews with major news groups on Wednesday night.

The word seems to mean that the bank will now be running on plans which would be completely different from the ones that were employed by former CEO Kenneth Lewis, who believed more in deal making.

During much of his almost decade long administration of the bank, Mr. Lewis managed to close some major takeovers. In 2004, BofA purchased FleetBoston Financial for $47 billion, an acquisition that brought Mr. Moynihan to the company.

Mr. Moynihan has asserted that his predecessor has managed to build a firm which has a global presence. "There isn't a market we can't transact in, and a place we can't get capital", Mr. Moynihan said, while stressing that under the current circumstances, however, it would make more sense to repair whatever businesses the bank has, instead of trying to take on new ones.