Bonus Watch '14: Bank of America CEOs (Make Less Than Their Underlings)

...which has got to hurt.
Author:
Updated:
Original:

Moynihan, whose role as chairman of the bank the board was forced to defend the shareholders in a filing today, took a pay cut last year. The real kick in the pants, though, was not the actual dollar amount but that the figure, for the second time in a row, was smaller than one of his deputies.

Mr. Moynihan was awarded $13 million in stock and cash last year, according to the bank’s proxy statement released Thursday. That was down from the $14 million he received in 2013. And again, the head of the firm’s investment bank, Thomas K. Montag, was paid more than his boss. Mr. Montag was awarded $14 million in compensation, down from $15.5 million in 2013.

Bank of America C.E.O. Took 7% Pay Cut in 2014 [Dealbook]

Related

News

Bonus Watch '12: Third Year Bank Of America CEO's

After a year of layoffs, topless hecklers, people who won't stop yelling at him, jokes that sting, and continuing to "reap the benefits of what Countrywide sowed," things are looking up for Brian Moynihan. Bank of America Corp., the second- biggest U.S. lender, more than quadrupled Chief Executive Officer Brian T. Moynihan’s 2011 compensation to $8.09 million. Salary was unchanged at $950,000 while his stock awards surged to $6.1 million from zero the previous year, the Charlotte, North Carolina-based lender said today in a regulatory filing. The figures conform to U.S. Securities and Exchange Commission guidelines. [Bloomberg]