Bank of America CEO Brian Moynihan sees big pay increase

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Bank of America CEO Brian Moynihan sees big pay increase

Bank of America CEO Brian Moynihan sees big pay increase

Biz Journal-

Bank of America Corp. chairman and CEO Brian Moynihan, a Wellesley resident, earned over 20 percent more last year than he did in 2016, as his total compensation rose to nearly $40 million.

Moynihan made $39.9 million in 2017, including the value realized on the vesting of previously issued stock awards, according to the company’s (NYSE: BAC) proxy filing. In 2016, he made $33.2 million.

Moynihan’s pay rose mostly because Bank of America handed him higher stock awards based on the company’s performance. Its pre-tax earnings were up significantly last year. In the proxy, the bank pointed to an increase in mobile users and upgraded long-term debt ratings as among Moynihan’s accomplishments in 2017.

[BIZ JOURNALS]

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