BofA CEO Takes Stock In The Bank

Vanessa Doctor

25 August 2010

Bryan Moynihan, the chief executive officer of Bank of America, has purchased $390,000 worth of stock in the company.

In a filing with the US Securities and Exchange Commission, it was shown that Moynihan bought 30,000 shares of common stock in 23 August, 7,200 of which were worth $13.0295 each, 10,000 at $13.02 each, and 12,800 at $13.0293 each. This brings the CEO's total holdings to over 449,000 shares, estimated to be worth $5.8 million.

Moynihan stepped in as CEO early this year, replacing Kenneth Lewis. Prior to his current position, he was president of global wealth and investment management at the bank.