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Bank of America Increases CEO Moynihan's Pay 23% to $16 Million

  • CEO cut expenses 24% last year as he resolved legal issues
  • Half of compensation is in stock linked to future performance
Brian Moynihan, chief executive officer of Bank of America Corp.

Brian Moynihan, chief executive officer of Bank of America Corp.

Photographer: Jason Alden/Bloomberg
Updated on

Bank of America Corp. awarded Chief Executive Officer Brian T. Moynihan $16 million for his work last year, raising his potential compensation 23 percent.

Moynihan received $14.5 million in stock grants for 2015 and left his salary unchanged at $1.5 million, according to a regulatory filing Friday. A year earlier, the Charlotte, North Carolina-based bank gave the CEO of the second-biggest U.S. bank a $13 million pay package.