• 20 Feb 2014 at 12:56 PM
  • Banks

Bonus Watch ’14: Bank of America CEOs

Despite the 17% bump for his many troubles last year, Brian Moynihan is still not the best-paid man at BofA—and will still allow Jamie and Lloyd to pick up the check at lunch.

Bank of America Corp. awarded Chief Executive Officer Brian T. Moynihan $14 million for last year, boosting his pay 17 percent after profit more than doubled.

Moynihan received $12.5 million in stock grants for 2013, the firm said yesterday in a filing to the U.S. Securities and Exchange Commission. He got no cash bonus for last year, and his $1.5 million salary will remain unchanged in 2014….

In previous years, Bank of America paid co-Chief Operating Officer Thomas K. Montag, 57, more than Moynihan, his boss. Montag, who runs investment banking and trading, joined Bank of America during its 2009 takeover of Merrill Lynch & Co. He had been Goldman Sachs Group Inc.’s head of trading.

Montag’s total compensation reached $14.5 million for 2012. For last year, he got $8.7 million in equity awards, the firm said yesterday. His total pay typically isn’t disclosed until the firms’ proxy filing is released later in the year….

JPMorgan Chase & Co. (JPM) CEO Jamie Dimon, 57, got a 74 percent raise to $20 million for 2013….

Goldman Sachs CEO Lloyd C. Blankfein, 59, saw his bonus increase 11 percent to $21 million. He also gets a $2 million salary. Including an additional long-term incentive, his total compensation a year ago amounted to $26 million, the most among U.S. bank CEOs that year and his biggest package since he set a Wall Street record of $68.5 million in 2007.

BofA Said to Boost CEO’s Compensation 17% to $14 Million [Bloomberg]
Bank of America Boosts CEO’s Pay [WSJ]

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Comments (4)

  1. Posted by quant me maybe... | February 20, 2014 at 1:02 PM

    Not to be critical, but a good trader at a mid size hedge fund can make that kind of money.

    > The perks must be fabulous.

  2. Posted by Guest | February 20, 2014 at 1:21 PM

    He's been shafted.They could have at least handed over a seven figure sum of Spirit Points too.

  3. Posted by Can't stop laughing | February 20, 2014 at 2:09 PM

    Working at BofA is its own reward….

  4. Posted by Spirit Pointer | February 20, 2014 at 10:10 PM

    Lets not forget the cache and swagger that comes with telling people you are running the most universally hated bank in the world.