Goldman Sachs CEO Lloyd Blankfein has returned to familiar terrain. Once again, he is the top paid CEO in the banking industry. In fact, 2012 was his best year since he set the world on fire with his 2007 compensation, which hit nearly $70 million.
Michael Corbat has only been CEO of Citigroup since October, but he's already being paid like a veteran CEO of a big bank.
I noted recently that there's a new kingpin on Wall Street in terms of compensation.
When people talk about the most influential bankers on Wall Street, they usually talk about the CEOs of the premiere companies, whether broker-dealers, hedge funds or private equity funds. They're never talking about the head of a middle-market broker dealer.
The financial crisis is finally over for Lloyd Blankfein.
Citigroup directors have awarded a $6.65 million bonus to ex-CEO of Citigroup Vikram Pandit after ousting from the job last month.
At the height of the bank executive compensation furor, when compensation committees were being pilloried by regulators and others, bank boards really had no choice but to shift the compensation allocation, relying more on options and restricted stock grants than cash and cash bonuses.
It was nothing short of stunning when shareholders rejected, via a say on pay vote, the compensation plan that the Citigroup board awarded to CEO Vikram Pandit for his work in 2011.
So who's the best paid CEO in the financial services universe?
Goldman Sachs, to its credit, understood that its 2012 annual meeting represented a lot of risk.