Brian Moynihan, Thomas Montag, and Geoffrey Greener are all key executives at Bank of America Corporation (NYSE: BAC) and are also the three largest insider shareholders of Bank of America stock.

Bank of America is one of the "big four" major money center banks in the United States, along with Wells Fargo & Company (NYSE: WFC), JPMorgan Chase & Company (NYSE: JPM) and Citigroup Inc. (NYSE: C). The bank operates globally, providing financial services to retail and business customers, institutional investors, and government entities. It's market cap value is $232.3 billion as of June 2020. Headquartered in Charlotte, North Carolina, Bank of America operates approximately 16,800 branches and financial centers. A notable 2008 acquisition of Merrill Lynch made the company one of the largest wealth management firms worldwide, and significantly raised its profile in the investment banking industry.

Thomas K. Montag

Thomas Montag is the chief operating officer (COO) of Bank of America since 2014, owning just under 6 million shares of the company. Before becoming sole COO, Montag was a co-chief operating officer from September 2011 to September 2014; and was president of the global banking and markets division from August 2009 to September 2011.  In 2018, Montag exercised options on 2.1 million shares subsequently disposed of approximately the same amount, in a transaction valued at more than $65 million at the time, according to SEC filings.

Brian T. Moynihan

Brian Moynihan is chairman of the board of directors at Bank of America and also the company's chief executive officer (CEO). During a long tenure with Bank of America, Moynihan has directed virtually every major segment of the bank's business, including consumer and small business banking, investment banking and wealth management.

After earning his law degree at the University of Notre Dame, Moynihan went to work at the law firm of Edwards & Angell LLP. He joined Fleet Boston Financial as the company's deputy general counsel in 1993, before moving on to become executive vice president in charge of the firm's brokerage and wealth management business operations. Following a 2004 merger of Fleet Boston with Bank of America, Moynihan assumed the position of president of wealth and investment management at the bank. When Bank of America acquired Merrill Lynch, he was named CEO of Merrill Lynch first, and then Bank of America. Mr. Moynihan serves as Chairman of the Board of Directors of the Financial Services Roundtable and serves on the Supervisory Board of The Clearing House Association L.L.C. 

His September 2018 Securities and Exchange Commission (SEC) filing reports that Moynihan owned 1.15 million shares of Bank of America.

Geoffrey S. Greener

Geoffrey Greener is the chief risk officer (CRO) for Bank of America, since April 2014. Before this position, Greener was head of enterprise capital management from April 2011 to April 2014; and head of global markets portfolio management, as well as chair of the global markets capital committee and the global markets regulatory reform executive committee from April 2010 to March 2011.

Greener is the third-largest insider shareholder, owning 583,000 shares. According to SEC filings, in 2018, he exercised options on nearly 200,000 shares of BAC stock and subsequently sold approximately 150,000 of those for net proceeds of roughly $4.8 million.

Mutual Fund and Institutional Stockholders

The largest shareholder of Bank of America stock is an institutional investor, Warren Buffet's Berkshire Hathaway, with 948 million shares held, or just over 10% of the company. Following close behind is mutual fund operator The Vanguard Group Inc., with a reported 620 million shares as of a 2020 SEC filing, amounting to 7.1% ownership. As might be expected, a Vanguard mutual fund, the Vanguard Total Stock Market Index Fund ("VTSMX") fund held 228,004,607 shares of Bank of America stock (.9% of the company) as of December 2019. BlackRock owns 6.2% of BAC shares.

The Bottom Line

Bank of America shares are owned widely by many investors. The top insiders include the company's CEO, COO, and CRO, some of whom exercised options and sold shares in 2018. Other large shareholders include Berkshire Hathaway with almost a 10% stake, followed by several leading financial and mutual fund companies.