Bank of America CEO Brian Moynihan's 2020 pay stays at $26M
Bank of America reports 2020 executive compensation
By ExecPay News
Published: March 8, 2021
Bank of America reported fiscal year 2020 executive compensation information on March 8, 2021.
In 2020, five executives at Bank of America received on average a compensation package of $16M, a 2% decrease compared to previous year.
Average pay of disclosed executives at Bank of America
Brian T. Moynihan, Chief Executive Officer, received $26M in total, which is about the same as previous year. 91% of Moynihan's compensation, or $24M, was in stock awards. Moynihan also received $674K of change in pension value and nonqualified deferred compensation earnings, $1.5M in salary, as well as $241K in other compensation.
For fiscal year 2020, the median employee pay was $94,866 at Bank of America. Therefore, the ratio of Brian T. Moynihan's pay to the median employee pay was 273 to one.
Thomas K. Montag, Chief Operating Officer, received a compensation package of $19M, which decreased by 3% compared to previous year. 56% of the compensation package, or $11M, was in stock awards.
Paul M. Donofrio, Chief Financial Officer, earned $12M in 2020, a 3% decrease compared to previous year.
Geoffrey S. Greener, Chief Risk Officer, received $12M in 2020, which decreases by 3% compared to 2019.
Dean C. Athanasia, President, Retail and Preferred Small Business Banking, earned $12M in 2020, a 1% decrease compared to previous year.
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Source: SEC filing on March 8, 2021.