February 12, 2016 / 10:32 PM / 2 years ago

CORRECTED-BofA chief Moynihan gets 23 percent pay hike

(Corrects to show Moynihan's 2015 compensation rose to $16 million, not $14.5 million, and the increase was 23 percent not 11.5 percent. His equity award for 2015 was $14.5 million, not $13 million)

By Dan Freed

Feb 12 (Reuters) - Bank of America Corp raised Chairman and Chief Executive Officer Brian Moynihan's compensation by 23 percent in 2015, a year the bank more than doubled its profits.

Moynihan's total compensation was $16 million, up from $13 million for 2014. The 2015 figure includes a $14.5 million stock-based award, compared to $11.5 million for 2014.

Reporting by Dan Freed in New York; Editing by Bernard Orr

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