Lunchtime Links: Clarifying the enormous amounts US banking CEOs earned between 2000 and 2008
In the period preceding the global financial crisis, US bank CEOs did very well for themselves.
Just how well they did is illuminated by a new study from the University of Colorado.
Between 2000 and 2008, chief executives of 14 leading US financial institutions received cash compensation of $891m. They also made realised net trading gains of $1.8bn. Admittedly, they also suffered an unrealised paper loss of slightly more than $2bn, but in the circumstances this was really no big deal...
For information on who got what, click on the table below or the link above.
Profit might have increased at BarCap. (Bloomberg )
Vince Cable wants banks to actually name their top 8 senior executive earners (although not below board level) (Sky )
Cable's credibility is on the line. (Guardian )
If the crisis has truly led to a new era of more cautious risk management, then Credit Suisse may get less than it hopes from "flow-based sales initiatives" in investment banking. (Financial Times )
"It does not look like Credit Suisse is coming as a winner out of the crisis. We think it missed an opportunity to take market share, specifically in fixed-income." (Dealbreaker )
Stephen Hester: "We will seek to mend some fences on the vexed subject of pay and bonuses." (Sky )
City backing for Ed Balls exceeds union backing. (Order Order)
UK uncut plans to target banks by occupying their buildings and 'using them for things that may be more useful for the community.' (Guardian)
Citigroup has hired two senior leveraged financiers. (Financial News )
How close to the brink Citigroup and Morgan Stanley came. (DealBook )
Warren Buffett says Ken Lewis paid a crazy price for Merrill Lynch. (BusinessWeek )
Goldman Sachs wanted Ken Feiberg to say its pay was ok even though he didn't have to. (Bloomberg)
Fourth quarter trading income tripled at DBS in Singapore. (Bloomberg)
UniCredit has named Jean Pierre Mustier head of investment banking. (Bloomberg)
Robert Peston used to be a trainee at the London Stock Exchange. (BBC)
BNP Paribas's investment banking plan. (Financial Times)
Valentine's day infograph to gauge the uselessness of your gift. (Nerve)
