Bank of America Corp. Chief Risk Officer Bruce Thompson received $11.4 million in compensation in 2010, the most awarded to an executive at the bank and this year he was promoted to chief financial officer. His stature isn’t an anomaly.
Bank of America Corp., the biggest U.S. lender by assets, affirmed the company can meet capital goals without selling common stock and said it had expected some of the recent surge in mortgage-related legal actions.
Bank of America Corp., the second- biggest U.S. lender, quadrupled its quarterly profit and beat Wall Street estimates as the company quelled claims tied to defective mortgages. The stock reached its highest level in more than three years.
Brian T. Moynihan, who vowed that Bank of America Corp.’s strength would never be questioned again when he took the top job, found himself bombarded with queries yesterday about whether the bank needs to raise more capital.