Richard Bove, Rafferty Capital, explains why he thinks Brian Moynihan is the right man to lead Bank of America. Also Bove shares his thoughts on the departure of CFO Bruce Thompson.» Read More
Feb 20- Citigroup Inc cut Chief Executive Michael Corbat's pay by about 10 percent in 2014, a year in which the bank's profit nearly halved due to higher legal costs and a slump in bond trading. Deferred stock makes up 30 percent of Corbat's bonus pay under Citi's compensation plan, which was overhauled two years ago amid shareholder pressure.
Citigroup cut CEO Corbat's pay by about 7 percent in 2014, a year in which the bank's profit nearly halved due to higher legal costs and a slump in bond trading.
Feb 20- Citigroup Inc cut Chief Executive Michael Corbat's pay by about 7 percent in 2014, a year in which the bank's profit nearly halved due to higher legal costs and a slump in bond trading. Deferred stock makes up 30 percent of Corbat's bonus pay under Citi's compensation plan, which was overhauled two years ago amid shareholder pressure.
NEW YORK, Feb 17- Bank of America Corp cut Chairman and Chief Executive Officer Brian Moynihan's pay by 7 percent in 2014, a source familiar with the matter said on Tuesday, as its full-year profit fell 58 percent on higher legal settlements. Moynihan's total 2014 compensation was $13 million, down from $14 million a year earlier, according to the source.
PALO ALTO, Calif., Feb 13- President Barack Obama asked U.S. executives on Friday for closer cooperation in defending against hackers after high-profile attacks on companies like Sony that exposed weaknesses in America's cyber defenses. Speaking at Stanford University, Obama told Silicon Valley and financial services CEOs that they needed to share more...
CEO Brian Moynihan tells CNBC Bank of America benefited from the Swiss currency shock that rocked markets even though it "caught everybody by surprise."
Banks haven't been able to get their message straight on what exactly is causing the weak profit reports.
An activist investor group said it is withdrawing a shareholder resolution that called for Bank of America to have an independent board chair.
As big U.S. banks approach earnings this week, they're taking a page from a familiar playbook: Under-promise and over-deliver.
Less cash flow from oil companies could pinch loan payments to banks but more gas savings in consumers' wallets will create new business.
CNBC's Kayla Tausche explains how a presentation by Bank of America CEO Brian Moynihan is causing the bank's stock to move today.
Bank of America Chairman and Chief Executive Brian Moynihan has been quietly retooling the bank while working to end legal problems.
CNBC's Kayla Tausche breaks down Bank of America's third quarter results.
Credit was a tailwind, says Jeffery Harte, Sandler O'Neil principal, breaking down Bank of America's quarterly numbers and sharing his thoughts on the banking sector.
The JPMorgan CEO sees one thing that could derail the recovery: The $3.2 trillion nonbank financial system, or "shadow banks."
Bank of America said it named Chief Executive Brian Moynihan as chairman of its board, effective immediately.
Bank of America directors are supportive of its proposed $16 billion to $17 billion mortgage-securities settlement, according to someone familiar with the matter.
Bank of America and the Justice Department are closing in on a deal to settle mortgage probes that could reach as much as $17 billion.
The U.S. Federal Reserve approved a resubmitted capital plan from Bank of America, which announced it has raised its dividend.
Mortgage revenue fell and litigation costs increased for Bank of America in the second quarter.