Bank of America Pays Montag More Than CEO Moynihan for 2012
Published March 28, 2013 Dow Jones Newswires
The head of Bank of America Corp.'s (BAC) investment bank got a bigger paycheck than the bank's top executive, Brian Moynihan, according to a regulatory filing Thursday.
Mr. Moynihan was awarded $12 million in cash and stock for 2012, while Thomas Montag, co-chief operating officer and head of Bank of America Merrill Lynch, received $14.5 million in cash and stock, according to the filing.
The bank also awarded raises to its top executives as of Feb. 1. Mr. Moynihan received a $1.5 million raise to his base pay for this year, while Mr. Montag and co-chief operating officer David Darnell received a $1 million increase to their base salaries. The third-highest paid executive at the bank was chief financial officer Bruce Thompson, who made $11 million in cash and stock in 2012. Mr. Darnell made $9.5 million and general counsel Gary Lynch made $7 million.
M&T Bank CEO Wilmers Rails Against 'Astronomical' Banker Pay
Fox News Business ^ | March 07, 2013 | Dow Jones Newswires
Our tax dollars at work.
I guess the lawyers get like a billion dollars, and the plaintiffs will get some coupons.