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JPMorgan and Morgan Stanley increased pay for their chief executives for 2023

Investment Banking Editor

Bank of America paid chief executive Brian Moynihan $29m for 2023, down by 3% on the prior year, as Wall Street rivals have hiked pay for their top executives.

Moynihan's $1.5m salary was supplemented by a $27.5m bonus, comprised of Bank of America stock. He received no cash bonus for 2023, the bank said in a regulatory filing unveiling Moynihan's 2023 compensation.

Bank of America pays CEO Brian Moynihan $29m, down 3%

Paul Clarke

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