Bank of America Increases CEO Moynihan's Pay 23% to $16 Million
- CEO cut expenses 24% last year as he resolved legal issues
- Half of compensation is in stock linked to future performance
Brian Moynihan, chief executive officer of Bank of America Corp.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
Bank of America Corp. awarded Chief Executive Officer Brian T. Moynihan $16 million for his work last year, raising his potential compensation 23 percent.
Moynihan received $14.5 million in stock grants for 2015 and left his salary unchanged at $1.5 million, according to a regulatory filing Friday. A year earlier, the Charlotte, North Carolina-based bank gave the CEO of the second-biggest U.S. bank a $13 million pay package.