BofA chief's stock options shrink

BofA chief's stock options shrink
Bank of America Corp. chief executive Kenneth D. Lewis saw his stock options drop 8% to $10.8 million last year, compared with $11.7 million in 2005, according to Financial News.
FEB 16, 2007
The Charlotte, N.C.-based bank gave Mr. Lewis 263,770 shares of the company this year priced at $40.85 a share, according to an SEC filing. His full compensation package for the year has yet to be released. Mr. Lewis was involved in its purchase of private bank U.S. Trust from San Francisco-based Charles Schwab Corp., while cutting costs within Bank of America’s operations. The announcement comes days after Bank of America said it would cut 43 jobs in its specialist business and would reduce its staff in the unit to 65 people in the next month, from 165 employees as of Jan. 1.

Latest News

Younger Americans fear AI's retirement impact, Thrivent finds
Younger Americans fear AI's retirement impact, Thrivent finds

AI-driven job fears are weighing on retirement confidence, especially among Gen Z and Millennials, Thrivent survey finds

FINRA spanks Centaurus with $1.1 million penalty over variable annuity switches
FINRA spanks Centaurus with $1.1 million penalty over variable annuity switches

It’s the second time in as many years regulators have penalized Centaurus Financial for lack of compliance with Reg BI.

Wells Fargo touts AI Teammate to streamline advisors’ workloads
Wells Fargo touts AI Teammate to streamline advisors’ workloads

AI Teammate is embedded within Wells Fargo’s Advisor Gateway desktop platform.

Advisor moves: &Partners reels in $524M RayJay team, Focus firm Eton Advisors welcomes Northern Trust alum
Advisor moves: &Partners reels in $524M RayJay team, Focus firm Eton Advisors welcomes Northern Trust alum

Elsewhere, Ameriprise added a $470 million Wells team in New York, while an ex-Morgan Stanley advisor bolsters UBS' Austin, Texas office.

The exit planning conversations advisors need to have with business owners
The exit planning conversations advisors need to have with business owners

Financial advisors play an essential role in helping small business owners navigate their transition out of the company — and into retirement.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income