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Brian Moynihan

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  • *Q1 profit 27 cents/ shr vs. year-earlier loss 5 cents/ shr. *Legal expenses fall to $370 mln from $6 bln. April 15- Bank of America Corp, the No. 2 U.S. bank by assets, posted a first-quarter profit, narrowly beating analysts' estimates, as legal costs fell steeply and the bank earned more from mortgage lending and investment and brokerage services.

  • UPDATE 1-Goldman paid CEO Blankfein $24 mln in 2014 Friday, 10 Apr 2015 | 10:50 AM ET

    April 10- Goldman Sachs Group Inc awarded Chief Executive Lloyd Blankfein $24 million in compensation for 2014, a 4.3 percent increase from a year earlier. Blankfein's base pay was unchanged at $2 million but his cash bonus increased to $7.33 million from $6.3 million in 2013, according to a regulatory filing. Citigroup Inc cut CEO Michael Corbat's pay by...

  • BOSTON, March 26- Bank of America Corp will not hold a shareholder vote on its decision to reunite the roles of chairman and chief executive officer, according to the bank's proxy statement filed on Thursday. But both also said they would support Bank of America directors this year after the bank separately adopted a rule change to make it easier for shareholders...

  • March 20- Bank of America Corp joined a growing list of U.S. companies that are changing their corporate governance rules to make it easier for shareholders to nominate directors, after talks with pension funds. New York City Comptroller Scott Stringer, who oversees pension funds and has pushed for proxy access at other companies, said Bank of America made its...

  • UPDATE 1-Citigroup CEO Corbat earned 10 pct less in 2014 Wednesday, 18 Mar 2015 | 5:56 PM ET

    March 18- Citigroup Inc cut its chief executive Michael Corbat's annual compensation by 10.3 percent in 2014, citing high legal expenses and the company's failure to win regulatory approval for its capital plan last year. Corbat's earned a total of $13 million for 2014, down from $14.5 million a year earlier, according to the compensation approved by Citi's...

  • Feb 26- Bank of America Corp said on Thursday that two members of its board of directors and its chief accounting officer will be leaving the company in coming weeks. Directors Charles "Chad" Holliday, who chaired the bank's board until chief executive Brian Moynihan took on that role in October, and Clayton Rose will not stand for re-election at the company's...

  • 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.

  • 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...

  • BofA made money off Swiss franc jolt: CEO Tuesday, 20 Jan 2015 | 12:01 PM ET
    Brian Moynihan

    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 searching for answers on awful earnings Thursday, 15 Jan 2015 | 2:36 PM ET
    A Citibank branch in San Francisco.

    Banks haven't been able to get their message straight on what exactly is causing the weak profit reports.

  • Jan 15- Bank of America Corp, the second largest U.S. bank by assets, reported a 14 percent fall in quarterly profit as a decline in bond yields further crimped earnings. Chief Financial Officer Bruce Thompson described the fourth quarter as a "challenging rate environment," but said the bank expected to earn an extra $3.7 billion from higher loan and securities...

  • Jan 15- Bank of America Corp, the second-largest U.S. bank by assets, reported a 14 percent fall in quarterly profit as revenue from fixed-income trading fell. JPMorgan Chase& Co reported a decline of 14 percent in quarterly bond trading revenue on Wednesday. Net income attributable to common shareholders fell to $2.74 billion, or 25 cents per share, in the fourth...

  • BofA dodges activist group on chairman role Thursday, 15 Jan 2015 | 5:17 AM ET

    An activist investor group said it is withdrawing a shareholder resolution that called for Bank of America to have an independent board chair.

  • Why the outlook for big banks is pretty dismal Tuesday, 13 Jan 2015 | 1:19 PM ET
    A JPMorgan Chase flag at the company's headquarters in New York.

    As big U.S. banks approach earnings this week, they're taking a page from a familiar playbook: Under-promise and over-deliver.

  • NEW YORK, Dec 31- Ambac Assurance Corp sued Bank of America Corp to recoup hundreds of millions of dollars of losses from insuring roughly $1.68 billion of securities backed at least in part by risky mortgages from the bank's Countrywide Home Loans unit. "Countrywide's fraud is borne out by the transactions' dismal performance," said Ambac, which in September 2010...

  • Ambac sues Bank of America over Countrywide mortgage bonds Wednesday, 31 Dec 2014 | 11:37 AM ET

    NEW YORK, Dec 31- Ambac Assurance Corp sued Bank of America Corp to recoup hundreds of millions of dollars of losses from insuring roughly $1.68 billion of securities backed at least in part by risky mortgages from the bank's Countrywide Home Loans unit. Bank of America, the second-largest U.S. bank, bought Countrywide in July 2008. The lawsuit shows how Charlotte,...

  • Low oil prices: Double-edged sword for banks Friday, 19 Dec 2014 | 4:35 PM ET
    Workers check the valves at the Taq Taq oil field in Arbil, Iraq, in this Aug. 16, 2014 photo.

    Less cash flow from oil companies could pinch loan payments to banks but more gas savings in consumers' wallets will create new business.

  • BofA CEO: 'Clearly' superior plan to stay big   Tuesday, 9 Dec 2014 | 9:30 AM ET
    BofA CEO: 'Clearly' superior plan to stay big

    CNBC's Kayla Tausche explains how a presentation by Bank of America CEO Brian Moynihan is causing the bank's stock to move today.