My Two Cents

And they earned this because…?

Chris Farrell Oct 14, 2008

The Institute for Policy Studies has estimated the CEO pay of the top semi-nationalized banks. It’s a combined total of $289 million for 2007.

Nationalized banks
CEO in 2007, total compensation in 2007

Merrill Lynch,
John Thain

Goldman Sachs
Lloyd Blankfein

Morgan Stanley
John Mack

J.P. Morgan Chase
James Dimon

Bank of New York Mellon
Robert Kelly

State Street
Ronald Logue

Wells Fargo
Richard Kovacevich

Vikram Pandit*

Bank of America
Kenneth Lewis

Total: $289,427,180

  • Pandit was promoted to CEO in Dec. 2007, 8 months after joining Citigroup.
    Source: Associated Press inter-active online survey. Includes stock options grants.

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