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Stock impact report

Bank of America to increase bonuses for investment bankers – report [Yahoo! Finance]

Bank of America Corporation (BAC) 
Last bank of america corporation earnings: 4/15 06:45 am Check Earnings Report
US:NYSE Investor Relations: investor.bankofamerica.com
Company Research Source: Yahoo! Finance
The lender is also planning to expand the investment banking division's overall bonus pool, building on the increased deal activity this year. According to the publication, top dealmakers may see their bonuses rise by approximately 20%, while mid-level performers could receive payouts similar to last year. The bank is still finalising year-end compensation figures, and these numbers may be subject to change. Last year, Bank of America raised average bonuses by 10%. The bank usually communicates its bankers about the bonus decisions in January. According to a regulatory filing, the bank has generated $130m in fees through the Norfolk Southern transaction. The publication said that Bank of America plans to grow its share of investment banking fees by 50 to 100 basis points over the next three to five years. The bank aims to close the gap with competitors JPMorgan and Goldman Sachs, which have consistently outpaced it in this area. It also aims to retain leading talent in Show less Read more
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