Bank of America boss gets 15% pay boost

Bank of America boosted CEO Brian Moynihan’s compensation to $23 million for 2017, a 15 percent increase from a year earlier.

Bloomberg News reports that Moynihan, 58, received $21.5 million in stock grants and a $1.5 million salary, the Charlotte, North Carolina-based lender said Friday in a regulatory filing. Half of the equity awards are linked to performance over three years. The rest includes restricted stock units that vest regardless of performance and others that settle in cash within one year. He hasn’t received a cash bonus since 2007.

Moynihan has sought to trim costs and boost profits after years of grappling with legal and regulatory headaches stemming from the financial crisis. In 2017, expenses fell 1 percent and profit increased 3 percent.

Hit the link below to access the complete Bloomberg News article:

BofA Increases Moynihan's Pay 15% to $23 Million for Last Year

Ex-Credit Suisse Banker Guilty as Fraud Tops $150 Million

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