Business

Bank of America CEO made $7.4 million in 2012

Brian Moynihan
Brian Moynihan

Bank of America said 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.

The Wellesley resident became CEO in 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.

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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. He was given stock last year valued at $5.9 million, down from $6.1 million. He also received $520,513 in perks like use of corporate aircraft.

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The pay package also includes nearly $40,000 in above-market returns tied to a deferred compensation plan.

Associated Press