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Bank of America executives' pay rose 12 percent in 2013 [March 08, 2014] (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. |
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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) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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