NEW YORK, Apr. 2 (Reuters) — Record earnings on Wall Street yielded windfall bonuses and pay packages for its top executives and some of the heads of the big US commercial banks. Details of the 2005 pay packages released so far in regulatory filings, listed by size:
GOLDMAN SACHS
* Chairman and Chief Executive Henry "Hank" Paulson was awarded a total of $ 38.8 million last year, up 30 percent from fiscal 2004. This included $ 30.1 million in restricted stock, up 3 percent from $ 29.2 million in 2004. His salary was $ 600,000, the same as for the previous two years.
MERRILL LYNCH & CO.
* Chairman and Chief Executive Stan O’Neal was awarded $ 37 million in 2005, up 15 percent from a year earlier. This included a $ 700,000 salary, $ 14.1 million cash bonus, $ 20.2 million of stock, and $ 2 million as part of the managing partner incentive program, which he will only receive if the company meets performance hurdles in coming years.
LEHMAN BROTHERS
* Chairman and Chief Executive Richard Fuld was awarded total compensation of $ 34.5 million in 2005, up 31 percent from a year ago. Fuld received $ 750,000 of salary, a cash bonus of $ 13.8 million, an additional bonus of restricted stock worth $ 14.9 million, and 450,000 of stock options which Lehman estimates has a value of about $ 5 million.
BEAR STEARNS COS.
* Chairman and Chief Executive James Cayne was awarded at least $ 28.4 million, up about 9 percent, excluding options. Cayne was awarded $ 200,000 in salary, a $ 12.7 million bonus, $ 10.3 million of restricted stock, $ 5.2 million of other compensation. Cayne was also awarded options worth $ 1.9 million at the time of grant, but whose value may change.
CITIGROUP
* Chief Executive Charles Prince, 56, was awarded $ 23 million in 2005, up 15 percent from a year earlier. This included a $ 1-million salary, $ 12-million bonus, and $ 9.7 million of restricted stock.
* Chairman Sanford "Sandy" Weill awarded $ 21.5 million, up 12 percent from 2004. The 2005 figures included about $ 525,000 for transportation and $ 303,000 for security services.
JPMORGAN CHASE & CO.
* Chief Executive Jamie Dimon, 50, and Chairman William Harrison. 62, awarded $ 22.3 million each, up 47 percent and 39 percent on 2004. Each got $ 1 million in salary, an $ 8.4 million bonus and $ 12.6 million of restricted stock.
BANK OF AMERICA CORP.
* Chief Executive Kenneth Lewis awarded $ 22 million, down 3 percent from a year earlier. This included a $ 1.5 million salary, $ 5.65 million bonus, $ 11.7 million of restricted stock and $ 2.93 million of stock options.
WELLS FARGO & CO
* Chief Executive Richard Kovacevich awarded $ 21.9 million, down 26 percent on 2004. This included a $ 995,000 salary, $ 7-million bonus, $ 13.35 million of stock options and $ 567,500 of other compensation.
WACHOVIA CORP
* Chief Executive Ken Thompson, 55, awarded $ 16.9 million, down 6 percent on 2004. This included a $ 1.09-million salary, a $ 5-million bonus, $ 5.7 million of restricted stock, $ 4.82 million of stock options and $ 276,000 of other compensation.
LAZARD
* Chief Executive and Chairman Bruce Wasserstein awarded $ 14.2 million which included a $ 4.2 million salary and $ 10 million in restricted stock.
MORGAN STANLEY
* Chairman and Chief Executive John Mack was awarded $ 13 million in cash, stock and other compensation for five months of work. Mack received $ 337,534 in salary and a $ 11.5 million bonus all in stock, as well as a company car, use of corporate aircraft, pension and other benefits. According to the proxy, Mack received a special long-term new-hire award of 500,000 restricted stock units, valued at $ 26.2 million.
|
