Bank of America awarded CEO Brian T. Moynihan $16m for his work last year, raising his potential compensation 23%.
A year earlier, the bank gave the CEO of the bank a $13m pay package.
Moynihan, 56, survived a battle with investors in 2015 over whether he should be stripped of his role as chairman as the bank’s stock lagged behind peers. The company also wrangled with regulators, as it was forced to resubmit its capital plan under the Federal Reserve’s annual stress test. Moynihan slashed expenses 24% last year, partly by putting some of the bank’s biggest legal woes behind it.
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