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Bank of America executives' pay rose 12 percent in 2013

A Bank of America sign is shown on a building in downtown Los Angeles, California January 15, 2014. REUTERS/Mike Blake
A Bank of America sign is shown on a building in downtown Los Angeles, California January 15, 2014. REUTERS/Mike Blake

(Reuters) - Bank of America Corp gave its top executives a collective 12 percent pay raise in 2013, according to a filing with the U.S. Securities and Exchange Commission on Friday.

Co-Chief Operating Officer Tom Montag remained the highest paid top executive at the Charlotte, North Carolina-based bank with $15.5 million in total compensation in 2013, up from $14.5 million a year earlier.

The bank disclosed Chief Executive Brian Moynihan's $14 million pay package in February. By another measure of pay that includes changes in pension values and certain types of deferred compensation, Moynihan earned $13.1 million.

Chief Financial Officer Bruce Thompson received $12 million in 2013, up from $11 million in 2012. Co-Chief Operating Officer David Darnell was paid $10 million by the bank in 2013, or $500,000 more than his 2012 compensation.

General Counsel Gary Lynch took home $9 million in 2013, up from $7 million previously.

The top five executives received $60.5 million in 2013 compared with $54 million in 2012.

(Reporting by Peter Rudegeair; Editing by Jonathan Oatis)

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