The new chief executives of Bank of America Merrill Lynch and Morgan Stanley began their new roles this week. While one has made it his "solemn duty" to never again go cap in hand to the government for support, the other must ensure the growth of his bank's trading and funds businesses, according to analysts.

Brian Moynihan at Bank of America Merrill Lynch and James Gorman at Morgan Stanley both began their new roles on January 1 but yesterday marked the first full day in the job for both men.