Reuters logo
Bank of America executives' pay rose 12 percent in 2013
March 7, 2014 / 9:37 PM / in 4 years

Bank of America executives' pay rose 12 percent in 2013

(Reuters) - Bank of America Corp (BAC.N) 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.

A Bank of America sign is shown on a building in downtown Los Angeles, California January 15, 2014. REUTERS/Mike Blake

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 million.

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.

Reporting by Peter Rudegeair; Editing by Jonathan Oatis

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below