Economy

xchrom

(108,903 posts)

37. BANK OF AMERICA CEO PAY JUMPED 77 PERCENT

Sat Mar 8, 2014, 07:33 AM

Mar 2014

http://hosted.ap.org/dynamic/stories/U/US_BANK_OF_AMERICA_EXECUTIVE_COMPENSATION?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-03-07-18-28-55

Bank of America CEO Brian Moynihan saw his compensation jump 77 percent last year as the company's fortunes improved.

Moynihan's total compensation was $13.1 million, according to an Associated Press calculation based on a filing made by the company on Friday.

The bulk of his pay was $11.1 million worth of stock awards granted in February 2013. He also had a base salary of almost $1.5 million. Company perks totaled $497,751, most of which was for personal use of the company plane.

Bank of America's finances have been improving. Last year its profit more than tripled to $10.08 billion, and it has been cutting staff and focusing on its core businesses. Its balance sheet has been improving as well.

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