Top bank chiefs enjoy double-digit pay rises

While the global economy continues to spiral, top U.S. and European bank chiefs must be enjoying the ride. After all, they’ve received double-digit pay rises, observes Financial Times’ Daniel Schafer.

By Staff | June 25, 2012 | Last updated on June 25, 2012

1 min read

While the global economy continues to spiral, top U.S. and European bank chiefs must be enjoying the ride. After all, they’ve received double-digit pay rises, observes Financial Times’ Daniel Schafer.

Total pay awarded to 15 bank chiefs, including Bank of America’s Moynihan and Citigroup’s Pandit, increased by an average 12% last year, he reports.

Read: Citigroup pays way out of mortgage probe

“Dimon, whose reputation as one of the best managers in banking has been hit by a $2-billion trading loss in a supposedly safe division of JPMorgan, topped the list for the second year in succession with a $23.1 million pay package that was 11% higher.”

Read: Dimon testifies, defends regulators