Time was, being Chief Executive Officer of Bank of America was a thankless job that involved being mocked by Stephen Schwarzman, engaging in hand-to-hand combat, and generally feeling as though one’s ass was being kicked on a daily basis. It may still be a thankless job that involves all those things but now it comes with a little extra cash to make B-Moy feel better about himself/the prank calls that he knows are coming from Blackstone.
Bank of America Corp. boosted Chief Executive Officer Brian T. Moynihan’s 2012 compensation by more than 70 percent to about $12 million and agreed to increase his base salary for this year. Moynihan received $11.1 million in stock grants for 2012, almost doubling the amount he got the previous year, according to a regulatory filing today. For 2013, the bank increased his base salary to $1.5 million, compared with $950,000 for each of the previous three years, according to a person briefed on the matter.