BofA’s Moynihan gets 73 percent pay increase in 2012

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BofA’s Moynihan gets 73 percent pay increase in 2012

Posted on20 February 2013.

Reuters-

* CEO’s pay increases to $12.1 million from $7 million on bigger stock grants

* 2013 salary will increase to $1.5 million from $950,000

* Some of stock grants are performance-based

By Rick Rothacker

Feb 19 (Reuters) – Bank of America Corp Chief Executive Brian Moynihan’s pay increased 73 percent in 2012 from the previous year to $12.1 million, as the bank gave him a bigger package of stock awards.

The second-largest U.S. bank gave Moynihan a raise when other CEOs on Wall Street received a pay cut, after Bank of America’s stock soared in 2012 and it made progress in resolving lawsuits from the financial crisis.

[REUTERS]

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