Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks. Click here to read more international insights.
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.