Bank of America Corp. co-Chief Operating Officer Thomas K. Montag received a 21 percent raise to $14.5 million for 2012, topping his boss Brian T. Moynihan for the third straight year. Montag, 56, got a $5.46 million cash bonus for 2012, $8.19 million in restricted stock units and an $850,000 base salary, the Charlotte, North Carolina-based lender said today in a regulatory filing. That compares with the $12 million awarded to Moynihan, 53, giving the chief executive officer a raise of more than 70 percent from 2011. “This says to everybody that Brian is OK with Tom getting a superior compensation; Montag is doing a great job in a business that’s very tough right now,” said Jeanne Branthover, managing director at Boyden Global Executive Search Ltd. in New York [Bloomberg, earlier]

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  1. Posted by Bloomberg | March 28, 2013 at 2:27 PM

    "Montag is doing a great job in a business that’s very tough right now,” said Jeanne Branthover, managing director at Boyden Global Executive Search Ltd. in New York. When asked which of the 437 pages in BAC's latest 10-K she looked at in order to quantify this performance, Ms Branthover's eyes glazed over and she wandered away.

  2. Posted by Charlie Gasparino | March 28, 2013 at 7:00 PM

    I'm hearing that Tom also gets first dibs on the corporate G6 and bumped Moynihan at a Davos dinner so he could sit next to Marissa Mayer.

  3. Posted by Ema @ Mullinscuddihy | April 12, 2013 at 4:18 AM

    Self owned business provide a unique way to led tension free lifestyle as the company owner know what next to do but from what source depends upon what he gains throughout his or her lifestyle from family members and the surrounding environment.