Brian T. Moynihan, who has compared cleaning up Bank of America Corp.’s mortgage mess to lugging a backpack up a mountain, today posted his fourth quarterly loss since he became chief executive officer.
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 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.
Bank of America Corp., the second- largest U.S. lender, is cutting 450 mortgage jobs from West Coast offices after new loans fell short of internal forecasts, two people with direct knowledge of the plans said.
Bank of America Corp., the largest U.S. lender, won’t need to raise extra capital to meet new international standards, Chief Financial Officer Bruce Thompson told Nomura Securities International analysts.