Wall St.'s Top Bonuses Go to No-Names

Lloyd Blankfein's pay looks puny compared to John Stumpf's
By Kevin Spak,  Newser Staff
Posted Feb 11, 2010 7:40 AM CST

(Newser) – In the public imagination, Goldman Sachs gives the biggest bonuses around, but this year CEO Lloyd Blankfein’s $9.6 million payday doesn’t even crack the top 10 in the financial industry. Instead, the top spot is occupied by decidedly less famous Wells Fargo CEO John Stumpf, who pulled in $18.7 million, the New York Times reports, and executives from even lesser-known companies dot the list. The head of midsize investment bank Jeffries Group, for example, Richard Handler, will make $13 million.

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JP Morgan boss Jamie Dimon does come in second with $17.6 million, but several of his subordinates are making nearly as much. Indeed some of the biggest earners may be no-name traders, low enough on the totem pole to avoid public salary disclosure. “There are probably thousands of people in the Millionaire Club—or even the Ten Millionaire Club—that have gotten no heat,” says one Wall Street compensation consultant. (Read more executive compensation stories.)

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