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
$83,092,713

Goldman Sachs
Lloyd Blankfein
$53,965,418

Morgan Stanley
John Mack
$41,734,815

J.P. Morgan Chase
James Dimon
$28,856,330

Bank of New York Mellon
Robert Kelly
$20,515,810

State Street
Ronald Logue
$19,551,400

Wells Fargo
Richard Kovacevich
$18,510,694

Citigroup
Vikram Pandit*
$3,160,000

Bank of America
Kenneth Lewis
$20,040,000

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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