Quick, who was the top-paid banker in America last year? Lloyd Blankfein of Goldman Sachs? Vikram Pandit of Citigroup?
Actually, it was John G. Stumpf, head of San Francisco-based Wells Fargo, the New York Times reports. He was paid $18.7-million (U.S.) in cash and stock for 2009 -- up 64 per cent from 2007, just before the financial crisis struck.
In fact, there aren't a lot of big names on the top earners' list, the newspaper says.
Ever heard of Ajay Banga, the president of MasterCard Worldwide? How about Laurence D. Fink, CEO of money management company BlackRock, or Richard B. Handler, the boss at the Jefferies Group, a midsize investment bank that is virtually unknown outside financial circles? They made about $13-million each.
"While Jamie Dimon, JPMorgan's chairman and chief executive, appears to be the second-highest-paid banker, at $17.6-million, one of his subordinates collected nearly as much: Ina R. Drew, JPMorgan's chief investment officer," the Times said.
"Joseph W. Saunders, who runs Visa, was paid about $15.5-million, a figure that vastly eclipses the compensation for top executives at Bank of America and Citigroup."
And as for Mr. Blankfein, he took home less than $10-million -- about the same, the paper points out, as a relatively obscure banker called , "though he is hardly a household name."Report Typo/Error