Moynihan gets raise of 17% in 2013

|About: Bank of America Corporation (BAC)|By:, SA News Editor

The Bank of America (BAC +0.6%) board approved $14M for CEO Brian Moynihan, according a regulatory filing. Of that, $1.5M was his regular salary and $12.5M was stock grants, but there was no bonus despite a big move in the stock and profits that rose to $11.4B from $4.2B in 2012. The $1.5M salary will remain unchanged this year.

"They didn’t give him an outrageous raise,” says an executive search exec. “They’re also looking at how the outside world views this, and so they were relatively conservative.” Perhaps Moynihan should angle for the Chairman's slot. JPMorgan's Jamie Dimon - both CEO and Chairman of the Board - got a 74% raise for his 2013 efforts.