(Bloomberg) -- Bank of America Corp. shifted bonuses at U.S. Trust to focus employees on adding clients and boosting account balances, a change that could mean lower pay for some members of the wealth-management unit.
Client managers at the private bank will have awards this year pegged to new balances including deposits, investments and loans, said two people with knowledge of the formula. Bonuses had been tied to total client revenue, said the people, who asked for anonymity because compensation plans are confidential.
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