Posts by doubleup

Shareholders sent a message to Citigroup Inc. this week when they voted against hefty pay packages for its CEO and other top executives. April 12, 2012

The take-home pay of U.S. chief executives grew at least 10 percent in 2011, propelled largely by a stock market rally, according to consultants’ estimates. Reuters / April 2, 2012 READ ARTICLE

Goldman Sachs Group Inc. credit traders Matthew Knopman and Philip Ha are leaving for hedge funds after the fifth-biggest U.S. bank by assets cut jobs and pay last year. Bloomberg / March 26, 2012 READ ARTICLE

Wall Street bonuses hit bottom and are poised to rebound about 20 percent this year as markets improve, according to Alan Johnson, president and founder of compensation consulting company Johnson Associates Inc. “The major wall street firms have cut enough of their costs that it doesn’t take much in the way of increased revenue to…

Every year since the 2008 crisis, investment bankers at many of the large global banks have seen less and less of their bonuses in up-front cash and more in deferred stock and staggered cash payouts pushed out to two to three years down the road. During the 2011 bonus season, banks including Morgan Stanley, Barclays…

MBIA did not award bonuses to its top executives in 2011, but only after its regulator pressured the beleaguered bond insurer to withhold the payouts, people briefed on the matter said. The New York Times / March 12, 2012 READ ARTICLE

UBS (UBS) on Tuesday became the first investment bank to announce a major “clawback” of bonuses after a rogue trading scandal at the Swiss bank last year led to deep losses. Given the intense regulatory and political pressure on banks to rein in hefty bonuses that encourage excessive risk taking — as well as what…

NEW YORK (Dow Jones)–Goldman Sachs Group Inc. (GS) paid its employees an average of $367,057 for 2011, a decline of 15% from a year ago, reflecting the tough times experienced by banks and securities firms since last spring. The investment bank, known for rewarding its bankers and traders with the highest payouts among Wall Street…

When asked about his job at cocktail parties, Alan Johnson has a curiosity-piquing line.“You know those big paydays on Wall Street?” he says, typically waiting a beat to deliver the punch line. “I have something to do with them.” …as one of the nation’s foremost financial compensation specialists, Mr. Johnson is among a small group…