Since the financial crisis hit, banking excesses have undoubtedly been cut down as expense accounts have been restricted, leverage ratios increased and any exuberant trading activities have been halted. However, there are still some bankers who are making a huge impact in the industry and numerous banking CEOs are able to take home £20 million ($26.2 million) every year in salaries, stock awards and bonuses.
It is understandable that the best-paid CEOs are that of major US banks as those have the largest balance sheets and some of the biggest customers. But, there are some other bankers that have also made the list of 10 highest paid CEOs in the banking world and they are:
Jamie Dimon, JPMorgan Chase
JPMorgan Chase is one of the four big American banks and is its president, chairman and chief executive. He is one of the few bank CEOs to become a billionaire as he also has a stake in his bank. He takes home a salary of $28.2 million or £21.6 million.
P. Gorman, Morgan Stanley
Australian-born American, P. Gorman is the Chief Executive Officer and Chairman of Morgan Stanley and he formerly served as the firm’s Co-Head of Strategic Planning and Co-President. He takes home a compensation of approximately $22.5 million or £17.3 million.
Craig Blankfein, Goldman Sachs
Henry Paulson was the CEO of Goldman Sachs, but was appointed as the United States Secretary to the Treasury. Therefore, the position of CEO and Chairman of Goldman Sachs was given to Craig Blankfein. The American executive is paid $22.3 million or £17.1 million.
Thomas Moynihan, Bank of America
Thomas Moynihan is the CEO and president of the Bank of America and he joined the board of directors after his promotion. The American lawyer and businessman rakes in $20.2 million or £15.5 million.
L. Corbat, Citigroup
In October 2012, L. Corbat was appointed as the chief executive officer of Citibank Group and he has held the position since then. The American banker earns $15.5 million or £11.9 million annually.
Sergio P., UBS
From Lugano Switzerland, Sergio P. is the Group CEO of UBS, a position he has had since November 2011. The Swiss banker gets a paycheck worth $13.9 million or £10.7 million.
Stuart Thomson, HSBC
Since January 2011, Stuart Thomson has been the CEO of HSBC and the British banker is paid $13.1 million or £10.1 million.
Tim J., Wells Fargo
Previously serving as president and CEO, Tim J. became CEO of Wells Fargo in October 2016. The American banker takes home $12.9 million or £9.9 million.
António Horta, Lloyds Banking Group
First joining Lloyds Banking Group as executive director in January 2011, António Horta became CEO within 3 months. His annual earnings are $10.3 million or £7.9 million.
James Edward, Barclays
After working at JPMorgan for 34 years, James Edward became the CEO of Barclays in December 2015. The American banker’s takeaway for a year is approximately $10.2 million or £7.8 million.