08212017Headline:

Cherry Hill, New Jersey

HomeNew JerseyCherry Hill

Email Mike Ferrara Mike Ferrara on Avvo
Mike Ferrara
Mike Ferrara
Attorney • (866) 735-1102 Ext 650

Unbelievable Salaries for TARP Bank Execs

Comments Off

CNNMoney.com has just released the numbers for the salaries and total compensation earned in 2007 by executives of nine of the banks receiving funding through the federal government’s Troubled Assets Relief Program (TARP), which allowed the US Department of the Treasury to buy up or insure roughly $700 billion of so-called "troubled assets." They make for a fun/infuriating read—and notably, add up all by themselves to nearly a billion dollars.

Bank

Executive

Salary

Total
Compensation

Bank of America

Kenneth D. Lewis

Chairman and CEO

$1.5 million

$24.8 million

Bank of America

Joe L. Price

Chief Financial Officer

$800,000

$6.5 million

Bank of America

Amy Woods Brinkley

Global Risk Executive

$800,000

$9.3 million

Bank of America

Barbara J. Desoer

Global Technology and Operations Executive

$800,000

$10.5 million

Bank of America

Liam E. McGee

President Global Consumer and Small Business Banking

$800,000

$12.2 million

Bank of America

Brian T. Moynihan

President of Global Corporate and Investment Banking

$718,859

$10.1 million

Bank of America

R. Eugene Taylor

Former Vice Chairman and Former President, Global Corporate and Investment Banking

$800,000

$3.3 million

Citigroup

Sir Winfried Bischoff

Chairman

$373,734

$6.1 million

Citigroup

Vikram Pandit

CEO

$250,000

573,813

Citigroup

Gary Crittenden

Chief Financial Officer

$403,410

$19.4 million

Citigroup

Sallie Krawcheck

Chair and CEO—GWM

$500,000

$7.1 million

Citigroup

Lewis Kaden

Vice Chairman

$500,000

$6.8 million

Citigroup

Michael Klein

CEO- Global Banking

$212,500

$7.9 million

Citigroup

Stephen Volk

Vice Chairman

$212,500

$7.6 million

Citigroup

Charles Prince

Former Chairman and CEO

$1 million

$15.1 million

Goldman Sachs

Lloyd C. Blankfein

Chairman and CEO

$600,000

$70.3 million

Goldman Sachs

Gary D. Cohn

President and Chief Operating Officer

$600,000

$72.5 million

Goldman Sachs

Jon Winkelried

President and Chief Operating Officer

$600,000

$71.5 million

Goldman Sachs

David A. Viniar

Chief Financial Officer

$600,000

$58.5 million

Goldman Sachs

Edward C. Forst

Chief Administrative Officer

$600,000

$49.1 million

JP Morgan Chase

James Dimon

Chairman and CEO

$1 million

$27.8 million

JP Morgan Chase

Michael J. Cavanagh

Chief financial officer

$500,000

$8.3 million

JP Morgan Chase

Steven D. Black

Co-CEO Investment Bank

$400,000

$20.9 million

JP Morgan Chase

James E. Staley

CEO Asset Management

$400,000

$16.7 million

JP Morgan Chase

William T. Winters

Co-CEO Investment Bank

$564,379

$21.2 million

Merrill Lynch

John A. Thain

Chief Executive Officer

$57,692

$17.3 million

Merrill Lynch

Nelson Chai

Executive Vice President and Chief Financial Officer

$34,615

$1.7 million

Merrill Lynch

Gregory J. Fleming

President & Chief Operating Officer

$350,000

$27.4 million

Merrill Lynch

Robert J. McCann

Executive Vice President

$350,000

$5 million

Merrill Lynch

Jeffrey N. Edwards

Former Chief Financial Officer

$275,000

$2.6 million

Merrill Lynch

E. Stanley O’Neal

Former Chief Executive Officer

$584,231

$24.3 million

Merrill Lynch

Ahmass L. Fakahany

Former Co-President and Co-Chief Operating Officer

$350,000

$4.6 million

Merrill Lynch

Dow Kim

Former Executive Vice President

$309,615

$14.5 million

Morgan Stanley

John J. Mack

Chairman and CEO

$800,000

$1.6 million

Morgan Stanley

Colm Kelleher

Chief Financial Officer

$339,603

$21 million

Morgan Stanley

David H. Sidwell

Former Chief Financial Officer

$275,000

$14.6 million

Morgan Stanley

Robert W. Scully

Co-President

$500,000

$15.2 million

Morgan Stanley

Gary G. Lynch

Chief Legal Officer

$300,000

$11.9 million

Morgan Stanley

Thomas R. Nides

Chief Administrative Officer

$300,000

$6.3 million

New York Mellon Bank

Robert P. Kelly

Chief Executive Officer

$975,000

$20.1 million

New York Mellon Bank

Thomas A. Renyi

Executive Chairman

$1 million

$22.2 million

New York Mellon Bank

Gerald L. Hassell

President

$800,000

$11.8 million

New York Mellon Bank

Bruce W. Van Saun

Vice Chariman and Chief Financial Officer

$650,000

$8.9 million

New York Mellon Bank

Steven G. Elliott

Senior Vice Chairman

$675,000

$19.7 million

New York Mellon Bank

Ronald P. O’Hanley

Vice Chairman

$675,000

$11.5 million

State Street Corp.

Ronald E. Logue

Chief Executive Officer

$1 million

$28.3 million

State Street Corp.

Edward J. Resch

Chief Financial Officer

$650,000

$6.6 million

State Street Corp.

Joseph L. Hooley

Vice Chairman

$725,000

$10.3 million

State Street Corp.

Joseph C. Antonellis

Vice Chairman

$675,000

$9 million

State Street Corp.

James S. Phalen

Executive Vice President

$480,000

$7 million

Wells Fargo

Richard M. Kovacevich

Chairman

$995,000

$22.9 million

Wells Fargo

John G. Stumpf

President & Chief Executive Officer

$749,615

$12.6 million

Wells Fargo

Howard I. Atkins

Senior Executive Vice President & Chief Financial Officer

$600,000

$5.1 million

Wells Fargo

David A. Hoyt

Senior Executive Vice President, Wholesale Banking

$600,000

$6.4 million

Wells Fargo

Mark C. Oman

Senior Executive Vice President, Home & Consumer Finance

$600,000

$6.4 million

Wells Fargo

Carrie L. Tolstedt

Senior Executive Vice President, Community Banking

$495,192

$4 million

Source: Company proxy statements for 2007.