Wells Fargo WFC+1.3% Chief Executive John Stumpf is the best-paid U.S. banking CEO, according to an analysis of 2012 regulatory filings by SNL Financial.
Stumpf brought home $22.9 million in compensation last year, more than half coming in the form of stock awards. Next up came Capital One Financial COF+2.57%‘s Richard Fairbank, whose compensation totaled $22.6 million.
JPMorgan Chase JPM+1.44% Chief Executive Jamie Dimon ranked third on SNL’s list, with 2012 compensation of $18.7 million. That came after the bank’s board slashed Dimon’s bonus in light of the London Whale trading debacle. Last month, Dimon survived a shareholder vote that could have pushed the board to split his chairman and CEO roles. The measure actually got less support than it did a year ago.
Rounding out the top five in SNL’s ranking of 2012 pay are US Bancorp USB+1.38%‘s Richard Davis ($18.2 million) and State Street STT+2.91%‘s Joseph Hooley ($15.6 million).
Citigroup C+1.51%‘s Michael Corbat, who took the top job at the bank following the ouster of Vikram Pandit, ranked eighth on the list with compensation of $12.4 million.
Bank of America BAC+1.36%‘s Brian Moynihan was the only CEO of the four largest U.S. banks by assets not to make SNL’s top 10, with compensation of $8.3 million.
SNL found that median total compensation among U.S. banks was up 22.2% year-over-year to $551,972, the first double-digit gain since before the financial crisis
As the chart below shows, Stumpf’s sizable paycheck did not come along with the best performance for shareholders among the five highest-paid CEOs. That accolade goes to State Street’s Hooley, who presided over a 55% gain, nipping JPMorgan’s 52% gain at the tail end of 2012. Wells Fargo gained 40% last year.
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Stumpf brought home $22.9 million in compensation last year, more than half coming in the form of stock awards. Next up came Capital One Financial COF+2.57%‘s Richard Fairbank, whose compensation totaled $22.6 million.
JPMorgan Chase JPM+1.44% Chief Executive Jamie Dimon ranked third on SNL’s list, with 2012 compensation of $18.7 million. That came after the bank’s board slashed Dimon’s bonus in light of the London Whale trading debacle. Last month, Dimon survived a shareholder vote that could have pushed the board to split his chairman and CEO roles. The measure actually got less support than it did a year ago.
Rounding out the top five in SNL’s ranking of 2012 pay are US Bancorp USB+1.38%‘s Richard Davis ($18.2 million) and State Street STT+2.91%‘s Joseph Hooley ($15.6 million).
Citigroup C+1.51%‘s Michael Corbat, who took the top job at the bank following the ouster of Vikram Pandit, ranked eighth on the list with compensation of $12.4 million.
Bank of America BAC+1.36%‘s Brian Moynihan was the only CEO of the four largest U.S. banks by assets not to make SNL’s top 10, with compensation of $8.3 million.
SNL found that median total compensation among U.S. banks was up 22.2% year-over-year to $551,972, the first double-digit gain since before the financial crisis
As the chart below shows, Stumpf’s sizable paycheck did not come along with the best performance for shareholders among the five highest-paid CEOs. That accolade goes to State Street’s Hooley, who presided over a 55% gain, nipping JPMorgan’s 52% gain at the tail end of 2012. Wells Fargo gained 40% last year.
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