Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Bank of America CEO Moynihan's pay falls more than 7% in 2020

Published 02/15/2021, 05:17 AM
Updated 02/15/2021, 05:21 AM
© Reuters. 2020 World Economic Forum in Davos

By Imani Moise and Noor Zainab Hussain

(Reuters) - Bank of America Corp (NYSE:BAC) Chief Executive Officer Brian Moynihan's annual pay fell by about $2 million, or 7.5%, in 2020, a regulatory filing showed on Friday.

Moynihan will receive $24.5 million for his work during the year, compared with $26.5 million in 2019, the bank said. His base salary was held flat at $1.5 million and the remainder was made up of incentive compensation. https://

Profit tumbled 35% last year as the bank set aside billions of dollars in reserves for pandemic-fueled bad loans and low interested rates crimped revenue.

Earlier this year, Wells Fargo (NYSE:WFC) said CEO Charlie Scharf's pay dropped 12% in 2020 while Goldman Sachs (NYSE:GS) CEO David Solomon’s tumbled by 36%. JPMorgan Chase & Co (NYSE:JPM) held CEO Jamie Dimon’s annual pay flat.

Morgan Stanley’s top boss James Gorman say his pay jump 20%.

Latest comments

Instead of sitting in jail or paying fines bank CEOs (crooks) get huge salaries, BoA been fined more than $76 Billion since 2008 since he joined, he's a lawyer he knows how to game the system, illegally and reap personal rewards
it is a bad bank.  Many people left.
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.