Big Earners
April 30, 2013 8:09 AM
CEO pay rose a median 11% in 2012 among a group of 149 banks. Here are some of the most highly paid bank bosses of the year. Ratings of pay practices, on a scale from A to F, are provided by GMI Ratings, which analyzes corporate governance practices. Figures are for 2012; GMI assessments are as of April 29.
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(Image: Thinkstock)
Kenneth Chenault, American Express
Base salary: $2M
Total comp.: $28.5M
Change from 2011: 24%
Change, 2010 to 2011: 37%
ROAA: 2.9%
Total return on shares: 24%
GMI pay rating: F: High CEO pay relative to peers
Total comp.: $28.5M
Change from 2011: 24%
Change, 2010 to 2011: 37%
ROAA: 2.9%
Total return on shares: 24%
GMI pay rating: F: High CEO pay relative to peers
John Stumpf, Wells Fargo
Base salary: $2.8M
Total comp.: $22.9M
Change from 2011: 15%
Change, 2010 to 2011: 5%
ROAA: 1.4%
Total return: 27%
GMI pay rating: D: Long-term performance awards "pay out even if the company underperforms all of its peers but one"
Total comp.: $22.9M
Change from 2011: 15%
Change, 2010 to 2011: 5%
ROAA: 1.4%
Total return: 27%
GMI pay rating: D: Long-term performance awards "pay out even if the company underperforms all of its peers but one"
Richard Fairbank, Capital One
Base salary: ##PHOTO_DESCRIPTION##
Total comp.: $22.6M
Change from 2011: 21%
Change, 2010 to 2011: 26%
ROAA: 1.4%
Total return: 37%
GMI pay rating: D: High CEO pay relative to peers
Total comp.: $22.6M
Change from 2011: 21%
Change, 2010 to 2011: 26%
ROAA: 1.4%
Total return: 37%
GMI pay rating: D: High CEO pay relative to peers
James Dimon, JPMorgan Chase
Base salary: $1.5M
Total comp.: $18.7M
Change from 2011: -19%
Change, 2010 to 2011: 11%
ROAA: 0.9%
Total return: 36%
GMI pay rating: D: Pay slashed after London whale, but annual incentive awards determined at discretion of board rather than by performance benchmarks
Total comp.: $18.7M
Change from 2011: -19%
Change, 2010 to 2011: 11%
ROAA: 0.9%
Total return: 36%
GMI pay rating: D: Pay slashed after London whale, but annual incentive awards determined at discretion of board rather than by performance benchmarks
(Image: Bloomberg News)
Richard Davis, U.S. Bancorp
Base salary: $1.1M
Total comp.: $18.2M
Change from 2011: 34%
Change, 2010 to 2011: -27%
ROAA: 1.6%
Total return: 21%
GMI pay rating: D: Davis' pay is more than three times the median for other top executives, raising "concerns about internal pay equity"
Total comp.: $18.2M
Change from 2011: 34%
Change, 2010 to 2011: -27%
ROAA: 1.6%
Total return: 21%
GMI pay rating: D: Davis' pay is more than three times the median for other top executives, raising "concerns about internal pay equity"
(Image: Bloomberg News)
Joseph Hooley, State Street
Base salary: $1M
Total comp.: $15.6M
Change from 2011: -3%
Change, 2010 to 2011: 25%
ROAA: 0.9%
Total return: 19%
GMI pay rating: D: Incentive compensation tied to a measure of operating income alone - "a mix of performance metrics is more appropriate"
Total comp.: $15.6M
Change from 2011: -3%
Change, 2010 to 2011: 25%
ROAA: 0.9%
Total return: 19%
GMI pay rating: D: Incentive compensation tied to a measure of operating income alone - "a mix of performance metrics is more appropriate"
Gerald Hassell, Bank of New York Mellon
Base salary: $1M
Total comp.: $13.8M
Change from 2011: 12%
Change, 2010 to 2011: 10%
ROAA: 0.7%
Total return: 32%
GMI pay rating: D: Incentive compensation tied to short-term performance and too discretionary
Total comp.: $13.8M
Change from 2011: 12%
Change, 2010 to 2011: 10%
ROAA: 0.7%
Total return: 32%
GMI pay rating: D: Incentive compensation tied to short-term performance and too discretionary
(Image: Bloomberg News)
Michael Corbat, Citi
Base salary: $1M
Total comp.: $12.4M
Change from 2011: 16%
Change, 2010 to 2011: 33%
ROAA: 0.4%
Total return: 51%
GMI pay rating: D: High CEO pay relative to peers
Total comp.: $12.4M
Change from 2011: 16%
Change, 2010 to 2011: 33%
ROAA: 0.4%
Total return: 51%
GMI pay rating: D: High CEO pay relative to peers
(Image: Bloomberg News)
