Bank of America CEO made $7.4 million in 2012

AP News
Posted: Mar 28, 2013 6:32 PM

Bank of America says chief executive Brian Moynihan received a 2012 compensation package worth $7.4 million, down slightly from the prior year, according to an Associated Press analysis of a regulatory document filed Thursday.

He collected about $7.5 million in 2011.

Moynihan became CEO at the start of 2010, after his predecessor Ken Lewis stepped down amid controversy over the acquisitions of Merrill Lynch and Countrywide. Moynihan has been slimming down the bank's operations, including the sale of its international global wealth investment management business and improving its balance sheet last year.

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Bank of America paid Moynihan a salary of $950,000 and no bonus for 2012, both the same as in 2011.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.