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HomeAll newsMost read newsBusiness Leaders Biography
Age : 59
Public asset : 51,731,052 USD
Linked companies : Bank of America Corporation
Biography : Brian T. Moynihan is a businessperson who has been at the head of 11 different companies.

Bank of America CEO Moynihan's 2019 compensation unchanged at $26.5 million

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02/07/2020 | 08:40pm EST
2020 World Economic Forum in Davos

Bank of America Corp kept Chief Executive Officer Brian Moynihan's 2019 compensation flat at $26.5 million, according a filing on Friday.

The decision was the latest sign of restraint from bank boards after a year of robust revenue growth.

For instance, Morgan Stanley's board made the rare move of cutting CEO James Gorman's pay 7% to $27 million for 2019 in an effort to reduce expenses. JPMorgan Chase's board gave Chief Executive Jamie Dimon just a half-million-dollar raise.

In 2018, Moynihan was awarded a 15% increase in total compensation after Bank of America posted record profit of $28.1 billion. Total 2019 income was declined slightly due the impact of ending a joint venture during the year. Excluding that impact, profit rose to $29.1 billion, a performance that would typically prompt the board to give the CEO a raise.

In all for 2019, Moynihan earned a base salary of $1.5 million and equity incentive award of $25 million, the bank said in a filing https://www.sec.gov/ix?doc=/Archives/edgar/data/70858/000007085820000007/bac-2720208xk.htm .

By Imani Moise

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION -1.41% 34.36 Delayed Quote.-2.44%
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