<div id="subtitle">Bank of America CEO Moynihan to receive $950,000 a year, reportedly a 19pct increase</div><div><p>Bank of America's new CEO, Brian Moynihan, will make a salary of $950,000 a year, a person familiar with his pay package said Thursday. That amount reportedly gives Moynihan an almost 20 percent raise, but leaves his base pay well short of his predecessor's.</p><p>The bank's board of directors has approved the salary, the person said, who spoke on the condition of anonymity because the information is not yet being made public.</p><p>Moynihan is receiving 19 percent more than his 2008 base pay, The Wall Street Journal reported late Wednesday, citing people familiar with the matter.</p><p>Moynihan, 50, took over as CEO at the Charlotte, N.C.-based bank Jan. 1. He succeeded Ken Lewis, who typically received a base salary of $1.5 million.</p><p>Moynihan's salary doesn't include any bonus he might collect for 2010 performance. His bonus will be decided early next year, the Journal said.</p><p>Typically, executive compensation is disclosed in regulatory filings with the Securities and Exchange Commission.</p><p>Shares of Bank of America rose 17 cents to $15.36 in late afternoon trading.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=67990288&bid=informcom" /></div><div id="copyright"><div>

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