Bank of America Pays Well

The 37% increase in the bank's share price helped Lewis's package, with stock options, increase almost seven fold in 2001 to $17.5m.

Lewis's base salary was up 33% to $1.3m in 2001 and his bonus rose from $1.5m in 2000 to $5.2m last year.

Since taking over at Bank of America last April, Lewis has told investors and analysts that he wants to see executive compensation tied to stock performance. He is believed to have recently signed a new contract which will leave him at the helm until at least September, 2004.