Bank of America CEO Brian Moynihan's 2019 pay rises 14% to $26M
Bank of America reports 2019 executive compensation
By ExecPay News
Published: March 9, 2020
Bank of America reported fiscal year 2019 executive compensation information on March 9, 2020.
In 2019, five executives at Bank of America received on average a compensation package of $16M, a 12% increase compared to previous year.
Average pay of disclosed executives at Bank of America
Brian T. Moynihan, Chief Executive Officer, received $26M in total, which increased by 14% compared to 2018. 91% of Moynihan's compensation, or $24M, was in stock awards. Moynihan also received $632K of change in pension value and nonqualified deferred compensation earnings, $1.5M in salary, as well as $332K in other compensation.
For fiscal year 2019, the median employee pay was $94,256 at Bank of America. Therefore, the ratio of Brian T. Moynihan's pay to the median employee pay was 276 to one.
Thomas K. Montag, Chief Operating Officer, received a compensation package of $19M, which increased by 4% compared to previous year. 54% of the compensation package, or $11M, was in stock awards.
Paul M. Donofrio, Chief Financial Officer, earned $13M in 2019, a 6% increase compared to previous year.
Geoffrey S. Greener, Chief Risk Officer, received $12M in 2019, which increases by 7% compared to 2018.
Dean C. Athanasia, President, Retail and Preferred &Small Business Banking, earned $12M in 2019, a 16% increase compared to previous year.
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Source: SEC filing on March 9, 2020.