March 7 Bank of America Corp gave its
top executives a collective 12 percent pay raise in 2013,
according to a filing with the U.S. Securities and Exchange
Commission on Friday.
Co-Chief Operating Officer Tom Montag remained the highest
paid top executive at the Charlotte, North Carolina-based bank
with $15.5 million in total compensation in 2013, up from $14.5
million a year earlier.
The bank disclosed Chief Executive Brian Moynihan's $14
million pay package in February. By another
measure of pay that includes changes in pension values and
certain types of deferred compensation, Moynihan earned $13.1
Chief Financial Officer Bruce Thompson received $12 million
in 2013, up from $11 million in 2012. Co-Chief Operating Officer
David Darnell was paid $10 million by the bank in 2013, or
$500,000 more than his 2012 compensation.
General Counsel Gary Lynch took home $9 million in 2013, up
from $7 million previously.
The top five executives received $60.5 million in 2013
compared with $54 million in 2012.