This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

3 Things That Could Move Financial Stocks Today

NEW YORK ( TheStreet) - Here's the news and headlines that could move financial stocks today.

Bank of America (BAC - Get Report) CEO Brian Moynihan saw his pay in cash and stock jump to $8.1 million in 2011, according to the bank's annual regulatory filing with the Securities and Exchange Commission.

According to disclosure by the bank's compensation and benefits committee, Moynihan's pay was actually $7 million, including $950,000 as base salary and $6 million in restricted stock units.

The CEO's salary trailed that of three other BofA executives: Thomas Montag, Bruce Thompson and David Darnell got $12 million, $10 million and $8 million respectively.

The pay also trailed that of CEOs at rivals including JPMorgan Chase (JPM - Get Report), Citigroup (C - Get Report) and Wells Fargo (WFC).


Goldman Sachs (GS - Get Report) is holding its annual board meeting in India, in a sign of its growing commitment to the country and the region.

Even though CEO Lloyd Blankfein and other executives are half a world away, they might not be able to escape the scrutiny they have received in recent weeks.

On Wednesday, the company reached a deal with a leading union pension fund to appoint a "lead" director, temporarily staving off calls to remove Lloyd Blankfein from the post of Chairman and replace him with an independent director.

Blankfein holds both the CEO and Chairman positions at Goldman Sachs. Previous calls to separate those roles to reduce potential conflicts of interest have been shot down by shareholders.

Goldman's reputation has come under attack in recent weeks, following the public resignation of a former employee who accused the firm of putting money before clients' interests. That has once again raised the pressure on the investment bank to address its corporate governance practices.

Shareholders will vote in the firm's annual meeting in May on a proposal to replace Blankfein as independent chairman. According to the reports, management has held discussions about reducing the role of Blankfein to Chairman and promoting COO Gary Cohn to the chief executive position if the union's proposal is passed.


JPMorgan Chase CEO Jamie Dimon continues to feel optimistic about the economy. In an interview with CNBC, Dimon said the U.S. no longer faced the risk of a double-dip recession.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
C $53.07 0.00%
BAC $15.56 0.00%
GS $197.35 0.00%
JPM $62.84 0.00%
XLF $24.13 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs