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Bank of America CEO Brian Moynihan.
Bank of America CEO Brian Moynihan.
(Fernando Morales/The Globe and Mail)


BofA investors better bank on CEO being long-term greedy

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Bank of America investors had better hope chief executive officer Brian Moynihan is long-term greedy. About half of his pay is now tied to hitting specific targets for average return on assets (ROA) and tangible book value by 2015. The bank’s first-quarter showing of $2.3-billion (U.S.) applicable to shareholders is better than last year. But without significant further improvement, Mr. Moynihan is going to fall way short.