Davos 2026: David Beckham & Brian Moynihan 1/20/26

Summary

Squawk Pod: Davos 2026 — David Beckham & Brian Moynihan
Date: January 20, 2026
Host: Becky Quick (with Joe Kernan and Andrew Ross Sorkin)
Guests: Brian Moynihan (Bank of America CEO), Sir David Beckham (Inter Miami CF President & Co-Owner)

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Episode Overview

This episode, recorded at the World Economic Forum in Davos, Switzerland, brings together Bank of America CEO Brian Moynihan and soccer legend David Beckham. The conversation explores pivotal market developments (notably a sell-off amid geopolitical uncertainty), a new Bank of America sports initiative, Beckham’s influence on soccer’s rise in the US, the impact of social media on young people, and cross-Atlantic cultural reflections. The episode blends sharp economic insight with reflections on leadership, inspiration, and the power of sports.

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Key Discussion Points & Insights

1. Market Volatility & Tariffs at Davos

• Setting the Scene: The Squawk Box team broadcasts from a frosty Davos amid a significant market sell-off (Dow down 655, S&P futures -100, Nasdaq -483).
• Market Reaction to Geopolitics: Moynihan attributes increased volatility to fresh security concerns and pending global decisions.
  • “The market loves certainty… I think the introduction of the security issues around Greenland… has introduced a volatility that we haven't felt in a while around an issue that could affect income streams.” (Brian Moynihan, 04:18)
• Comparing Shocks: Becky Quick prompts Moynihan to compare the current moment to April’s tariff-driven sell-off.
  • “No, that was a bigger shock to the system. Remember, the market went down 30, 40% and people froze because they couldn't figure out the quick change.” (Brian Moynihan, 04:52)
• Supreme Court & Tariff Uncertainty: Joe Kernan notes the looming possibility of a Supreme Court ruling on tariffs affecting markets further.
  • Moynihan responds: “[The administration has] made clear there's lots of avenues to get to the same outcome… so I don't think people should expect that this capability and technique will not be used in some fashion.” (Brian Moynihan, 05:34)

2. "Sports With Us": Bank of America’s Social Impact Initiative

• Moynihan introduces "Sports With Us," drawing from Bank of America’s tradition of broad-access programs ("Museums with Us," "Golf with Us").
  • “We needed a legend and an icon and a person who's both a business person, understands the business of football… and understands also… the highest level performer.” (Brian Moynihan, 06:14)
  • The World Cup sponsorship and youth engagement efforts are featured aims.
• Beckham’s Role:
  • Beckham attributes his partnership to his decades-long work with UNICEF and transformative project with Inter Miami.
    • “What we've achieved in Miami is building a club, a franchise, an environment, a community that has really surpassed any dreams that I could have ever wished to have done.” (David Beckham, 07:08)
  • Highlights bringing Lionel Messi to MLS as more than a business feat—it's an inspiration for young athletes and communities.
    • “It has served not just the economy, but it has served to inspire the next generation of football players, soccer players and sportsmen.” (David Beckham, 07:08)

3. Soccer’s Growth in America & the World Cup

• Exchanges about football vs. soccer reflect both the cross-cultural humor and the real growth of the game in the US.
  • “You personally, I think, [have made] a big change in how Americans see soccer or football. And we've got this World Cup coming up.” (Becky Quick, 08:34)
• Beckham’s vision:
  • “In 2007… The sport wasn't as big as what it is now. So there's been a lot of hard work… at some point, the US will win the World Cup and that's only coming through bringing players like Messi.” (David Beckham, 08:44)

4. Personal & Cultural Reflections

• Living in the US vs. UK:
  Joe Kernan probes where life’s easier for a global celebrity—America or Britain.

  • Beckham diplomatically responds:
    “I love my country, I love where I grew up, but I always wanted to live in America… I love to live in both places. I'm lucky that I get to spend a huge amount of time in both places.” (David Beckham, 09:47)

• The Power and Peril of Social Media:
  Becky Quick steers the discussion to mental health and the digital world.

  • Beckham reflects on the challenge for young people growing up online:
    • “I've always spoke about social media and the power of social media, you know, for the good and for the bad… Children are allowed to make mistakes. That's how they learn. So that's what I try to teach my kids.” (David Beckham, 11:11)
  • Moynihan mentions anti-hate initiatives and the challenge of curbing harmful content.
    • “It’s a social media piece that people don’t understand—how they’re working to identify this very tough stuff and trying to get it off.” (Brian Moynihan, 11:55)

5. The Value of Sports as a Social Force

• Moynihan outlines the deeper goals of “Sports With Us”:
  “It’s not [that] they’re all going to become icons of soccer… but a chance to recognize their opportunity and that’s what David represents.” (Brian Moynihan, 10:08)
• Sports as a bridge to business, opportunity, and social good.

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Notable Quotes & Memorable Moments

• On the rapid change in tariffs:

  • "That was a bigger shock to the system... the market went down 30, 40% and people froze because they couldn't figure out the quick change." (Brian Moynihan, 04:52)

• On inspiring the next generation:

  • “At some point, the US will win the World Cup and that's only coming through… bringing players like Messi.” (David Beckham, 08:44)

• Beckham’s definition of success:

  • “It wasn't just about winning championships… for me, it was more important to inspire the next generation.” (David Beckham, 08:44)

• On social media and parenting:

  • “Children are allowed to make mistakes. That's how they learn. So that's what I try to teach my kids.” (David Beckham, 11:11)

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Memorable Lighthearted Moments

• Cold-weather banter:

  • "People at home think that it's a green screen and we're faking it..." (Brian Moynihan, 12:35)
  • “I've seen this guy playing, playing soccer or football when it was very cold… Now he gets to wear a suit.” (Joe Kernan & David Beckham, 12:44–12:50)

• On American vs. European football:

  • “Football is still soccer in America.” — “Yes, yes, yes.” — “And football is still… Football is America. Yeah, yeah.” (Becky Quick, Brian Moynihan, 08:27–08:32)

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Timestamps for Key Segments

• [03:43] — Opening Market Context, Market Sell-Off, and Introduction of Guests
• [04:18] — Moynihan on Market Uncertainty and Security Issues
• [04:52] — Comparing Current Volatility to 2025 Tariff Shock
• [05:34] — Supreme Court & Tariff Policy Discussion
• [06:14] — “Sports With Us” Initiative and Why Beckham?
• [07:08] — Beckham on Inspiring the Next Generation & Building Inter Miami
• [08:44] — Soccer's Growth in America, Messi’s Move, and Inspiration
• [09:47] — Beckham on US vs. UK Celebrity Life
• [10:08] — Opportunity & Social Mobility Through Sports
• [11:11] — Impact of Social Media on Kids, Parenting Insights
• [12:35–12:54] — Lighthearted Banter About the Davos Set and Weather

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Episode Tone & Style

The conversation mixes analytical business talk with inspiring, personal, and often playful reflections. Moynihan provides measured, policy-driven responses, while Beckham is candid, humble, and passionate about sports, youth, and social impact.

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Summary for New Listeners:
This episode is a time-capsule of Davos 2026: It spotlights the domino effect of economic policy on markets, the transformative promise of sports when business and passion meet, and the ever-complex digital landscape youth must navigate. Moynihan and Beckham are united both by their belief in democratizing opportunity and by their optimism—even as the snow falls in Switzerland and the world’s leaders hustle to find solutions behind closed doors.

Transcript

[Keith Lansford]

This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information packed daily market Preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions and key results and statistics that may impact your trading. Download the latest episode and [e-mail] Market Update podcast or find Schwab Market Update wherever you get your podcasts.

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[Keith Lansford]

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[Becky Quick]

Would you put this on par with what we heard last April with the tariffs?

[Brian Moynihan]

No, that was a bigger shock to the system.

[Cameron Costa]

Bank of America CEO Brian Moynihan weighs in on a market sell off tariffs and geopolitics at the World Economic Forum in Davos, Switzerland, and he's there with the rest of the world's elite.

[Brian Moynihan]

Let the people go to work. They're here in this beautiful place and they've got a week to a few days to work on it. So give them 48 hours and see if they can come up with a solution.

[Cameron Costa]

Plus Sir David Beckham, soccer legend and owner of Inter Miami, home of Lionel.

[David Beckham]

Messi what we've achieved in Miami is building a club, a franchise, an environment, a community that has really surpassed any dreams that I could have ever wished to have done.

[Cameron Costa]

The global business of sports, building teams on and off the soccer pitch.

[David Beckham]

I think it's a big moment, you know, for me to partner with bank of America and obviously be part of Brian's team is something that I'm very proud of.

[Cameron Costa]

I'm CNBC producer Cameron Costa Squakpod reports from the 2026 World Economic Forum in Davos, Switzerland begins right. It is mid January, so of course, once again our Squawk Box trio, Becky Quick, Joe Kernan and Andrew Ross Sorkin packed their bags and their winter gear for the World Economic Forum in Davos, Switzerland. The event is a marathon of sorts. For a few days, leaders in government, finance, technology, academia and philanthropy all descend upon this snowy alp town to rub shoulders and to exchange ideas about how our world is working and where business and politics go next. Attendees this year include US Leaders like President Donald Trump who's come before and his treasury secretary Scott Besant, executives from tech giants like Meta OpenAI, Amazon Anthropic and the biggest names in business like a certain bank CEO you'll hear from on this very podcast. We're kicking off a huge week of CNBC coverage. But this morning, while our anchors sat on our outdoor Davos set, they weathered the wind, the cold and a market sell off. Here's Becky Quick on set in Davos.

[Becky Quick]

Down 655 right now for the Dow S and P futures, off by 100 the NASDAQ indicated, off by about 483 points. Joining us right now, bank of America CEO Brian Moynihan and legendary soccer player Sir David Beckham who is Inter Miami's president and co owner. And this may look like strange bedfellows. We're going to explain in just a moment. But before we do, Brian, I was hoping we could start with just the markets this morning. As somebody who's watching this, we're watching pretty closely. I know it's not a huge decline in the grander scheme of where we are from, the all time highs, but what do you think when you see these things today? And by the way, yields are higher this morning too.

[Brian Moynihan]

Look at the end of day, if you think about the travel last year, the market loves certainty when it feels that the business plans can generate and people can go. And so I think the introduction of the security issues around Greenland that there'll be a lot of discussion of this week and all the people are here and they can work on them, I think has introduced a volatility that we haven't felt in a while around an issue that could affect, affect income streams and stuff. So let the people go to work. They're here in this beautiful place and they've got a week to a few days to work on it. So give them 48 hours and see if they can come up with solutions.

[Becky Quick]

Would you put this on par with what we heard last April with the tariffs?

[Brian Moynihan]

No, that was a bigger shock to the system. Remember, the market went down with 30, 40% and people froze because they couldn't figure out the quick change. But as it went through the summer and basically end up with a regime that was sort of 15% like for most of the countries that agreed to invest in the US and fulfill the purpose of administration. And I think it became clear if you did that, you're at that goalpost. If you did didn't do that, you're at the 40% level and it works.

[Joe Kernan]

There's not an insignificant chance that the Supreme Court could rule today on tariffs, though, while we're all here, and potentially overturn them. Which isn't to say that we won't have tariffs in the future, but we would have very different tariffs and what that would do to sort of re scramble everything. How much of that you think is in this market right now?

[Brian Moynihan]

Well, I think that could be viewed positive by some people, negative by some people. But at the end of the day, I think the administration made clear there's lots of avenues to get to the same outcome. They may have different durations, different things. So I think they've been clear that if that goes that way on the Emergency act, they can go another way and they'll put them back in. So I don't think people should expect that this capability and technique will not be used in some fashion.

[Becky Quick]

All right, let's jump to, you mentioned goalposts. So let's jump to the reason that.

[Brian Moynihan]

I was trying to get to that.

[Becky Quick]

And that was good. I appreciate the transition that you and Sir David are sitting together. Sports with us is a partnership that you all have signed up to together. Why don't you explain a little bit about sports with us and why David Beckham was the person that you turned to on that.

[Brian Moynihan]

So at bank of America, we have built programs to help bring things out to the broadest pace as possible. We had museums with us. Now we have sports with us. So if you think about the Boston Marathon, Chicago Marathon, that's about running, but it's about the marathon or does it run for purpose? And you see the ads we do around that. You think about golf. We had golf with us, 86,000 kids signed up last year after the Masters, when we put that program out there, $5 a round, 3,000 munis they could play to democratize that. And then now we have the World cup sponsorship coming and we needed a legend and an icon and a person who's both. A business person, understands the business of football, I'll call it football, at least till after the super bowl, we can do that. But. And understands also the, you know, just, it was just a. The highest level performer and one of the highest level performers in history. Therefore, he can understand that excellence. Question, how do you get kids to want to be excellent play, but democratize the game, deeper and deeper coaching and capability, and that's sports with us.

[Becky Quick]

Sir David, what does this mean for you?

[David Beckham]

You know, I think it's a big moment, you know, for me to partner with bank of America and obviously be part of Brian's team is something that I'm very proud of. But I think that it all came from a couple of things. Possibly, you know, the last 22 years of working with UNICEF as a global ambassador, working with a lot of children around the world and empowering them to live to their full potential and achieve many things that they're not given the opportunity to achieve. And also, I think what I've done in Miami, I think what we've achieved in Miami is building a club, a franchise, an environment, a community that has really surpassed any dreams that I could have ever wished to have done. And we continue to do that. And I think the most important thing about that is what. What we've done is we've been able to bring the best player in the world to America, to the mls, to Miami. That has served not just the economy, but it has served to inspire the next generation of football players, soccer players and sportsmen.

[Becky Quick]

And you've done that with Lionel Messi. I mean, it's been amazing to see. But in America, football is still soccer.

[Brian Moynihan]

That's ok. We'll find out here after we get by.

[Becky Quick]

What do you think about what's going.

[Brian Moynihan]

Up with the World Cup, America? Football is still still soccer.

[Becky Quick]

European football is still soccer in America.

[Brian Moynihan]

Yes, yes, yes.

[Becky Quick]

And football is still.

[Brian Moynihan]

Football is America. Yeah, yeah.

[Becky Quick]

But you have made huge strides, you personally, I think, in making a big change in how Americans see soccer or football. And we've got this World cup coming up.

[David Beckham]

Look, without a doubt, you know, when I first moved to LA in the US in 2007, you know, the. The sport wasn't as big as what it is now. So there's been a lot of hard work that has been done. Incredible work, and I'm really, you know, proud that I played a small part in that. But then obviously being an owner, I always said that I wanted to bring the best player to a country that is so patriotic, that is so sports driven. And we were able to do that. But it was also, it wasn't just about winning championships. I love winning championships and obviously I wanted to win a championship, which we did last year. But for me, it was more important to inspire the next generation. So at some point, the US will win the World cup and that's only coming through, you know, bringing players like Messi.

[Joe Kernan]

Do you think it's easier to live in the United States or the uk? I mean, you are one of the biggest celebrities in the whole world. There's a spotlight on you in every headlines constantly, just from your own Personal sort of mental health. Is the U.K. harder or Europe harder? The U.S. i mean, there's more tension, maybe in the U.S. but maybe the U.K. i don't know.

[David Beckham]

I'm going to have to sit on the fence. I'm going to say that I love living in both places. You know, when I was growing up in the East End of London, you know, I love my country, I love where I grew up, but I always wanted to live in America and I got that opportunity and I love America for many different reasons. So I love to live in both places. I'm lucky that I, that I get to spend a huge amount of time in both places.

[Brian Moynihan]

So one of the things, Becky, on the sports with us and why David, if you know David's personal story being pulled at 14, 15 years old to the biggest soccer club in the world and then on the field at 17 and the excellence he had to do, but also the adjustments he had to make and the coaching he got as a 10 year old that got him to that place, that opportunity is what we're trying to create just for more and more kids now. It's not they're all going to become icons of soccer at level or other professional sports or professional golfer, but a chance to recognize their opportunity and that's what David represents. And by the way, they turn into huge business career and so, you know, and that, that's what you want to see that opportunity. Live in America, be able to participate in sports, learn from sports, but ultimately be able to be a great capitalist force for the good of the country.

[Becky Quick]

I liked what you have said about social media, David, in the past, just the idea that it was easier growing up without it. I think about my own kids who are growing up with everything they've ever done being posted on it. What do you say to people who are growing up right now, people who are dealing with those things just from a mental health perspective too?

[David Beckham]

You know, I've always spoke about, you know, social media and the power of social media, you know, for the good and for the bad. You know, the bad we've talked about with what kids can access these days and it can be dangerous. But what I've found personally, you know, especially with my kids as well, use it for the, the right reasons. You know, I've been able to use my platform and my following, you know, for unicef and it's been the biggest tool to make people aware of what's going on around the world for children. And I've tried to do the same. I've tried to do the same with my children to educate them. They make mistakes. Children are allowed to make mistakes. That's how they learn. So that's what I try to teach my kids. But you know, you have to sometimes let them make those mistakes mistakes as well.

[Brian Moynihan]

You've had Robert on in the blue square and so the anti hate and so what's developed is, you know, capabilities to start to try to figure out to bring the edges in. And Robert and the team have done a good job. And so, you know, that anti hate which was around anti Semitism now is broaden out. But it's a social media piece that people don't understand is how they're working to identify this very tough stuff and trying to get it off. And it's so the impact on kids. Hope you can start to mitigate the.

[Becky Quick]

Fringes of Well, I appreciate what you all are doing here. I appreciate your time today and thank you for coming by and spending some time.

[David Beckham]

Appreciate it.

[Brian Moynihan]

Take care then.

[David Beckham]

You're not cold?

[Joe Kernan]

He's not. But just so everybody's clear here, they're only out here for a couple minutes.

[Brian Moynihan]

People at home think that it's a green screen and we're faking it and that these guys.

[David Beckham]

And I don't feel no.

[Joe Kernan]

I've seen this guy playing, playing soccer or football when it was very cold. That's true back in the day.

[David Beckham]

That's true.

[Joe Kernan]

Now he gets to wear a suit.

[Brian Moynihan]

But they might be more manlier than we thought.

[Becky Quick]

Oh, and by the way, Ryan played rugby too.

[David Beckham]

Yeah.

[Brian Moynihan]

A rank amateur when you got got a guy with this.

[Becky Quick]

But everybody's rank amateur next year.

[Brian Moynihan]

You guys got enough hot air coming from us to keep you warm for a while.

[Becky Quick]

Thank you both.

[Keith Lansford]

This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information packed daily market Preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions and key results and statistics that may impact your trading. Download the latest episode and [e-mail] MarketUpdatePodcast or find Schwab Market Update wherever you get your podcasts.

[David Beckham]

What made you confident that you could.

[Becky Quick]

Something that hadn't been done before?

[Cameron Costa]

I have no fear of failure Trailblazing.

[Becky Quick]

Women, changing the game One of my favorite pieces of advice. Think about what your boss's boss needs.

[Cameron Costa]

Leadership can look in many, many different forms. It really does come down to just trusting yourself.

[Becky Quick]

Life is short and you just gotta think big to accomplish big things.

[Cameron Costa]

Julia Boorstin hosts CNBC changemakers and power players. New episodes every Tuesday, wherever you get your piece. Podcasts. Thank you for listening to this special Squawkpod reports from Davos, Switzerland at the World Economic Forum. We have much more coming to your feed this week. Interviews with Amazon CEO Andy Jassy, Treasury Secretary Scott Besant, even President Donald Trump. All you have to do is follow Squawkpod wherever you're listening now, and those episodes will pop up automatically every time we post a new one. Squawk Box is hosted by Joe Kernan, Becky Quick and Andrew Ross Sorkin, wherever in the world they may be. Squawk Pod is produced by me, Cameron Costa and Zach Valise. Our Katie Kramer is producing on the Ground in Switzerland this week. Plus, a big thanks to Julie Tras, our editor. Have a great day.

[Keith Lansford]

Building a portfolio with Fidelity Basket Portfolios is kind of like making a sandwich. It's as simple as picking your stocks and ETFs, sort of like your meats and other topics, and managing it as one big juicy investment. Now that's pretty good. Learn [e-mail] baskets Investing involves risks, including risk of loss. Fidelity Brokerage Services, LLC Member nyse, SIPC.