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Wall Street Gets Creative to Pay CEOs More as Financial Crisis Memories Fade

Wall Street Gets Creative to Pay CEOs More as Financial Crisis Memories Fade

As the economy picks up and stock markets rise, Citigroup, Bank of America and other big banks are taking advantage of the swing in sentiment to pay themselves more. It helps that memories of the financial crisis are fading.

Deutsche Bank Job Cuts Could Mean Fatter Paychecks for Survivors

Deutsche Bank Job Cuts Could Mean Fatter Paychecks for Survivors

Deutsche Bank plans to fire 250 to 500 employees in its investment-banking and trading business, a person familiar with the matter said. It could be a way to free up money to hire and retain top producers.

Citigroup Gives CEO Corbat 48% Pay Raise as Profitability Misses Goal

Citigroup Gives CEO Corbat 48% Pay Raise as Profitability Misses Goal

Citigroup boosted CEO Michael Corbat's pay to $23 million, even as the bank failed to meet the CEO's own profitability goal for a third straight year, and as it reported a full-year net loss of $6.2 billion due to the write-off of tax credits that management had touted as a competitive advantage.

Worst-In-Class Goldman Sachs CEO Blankfein Gets 9% Pay Raise

Worst-In-Class Goldman Sachs CEO Blankfein Gets 9% Pay Raise

The Goldman Sachs board of directors gave CEO Lloyd Blankfein a 9% pay raise in 2017 to $24 million, even as the firm turned in its worst performance in years.

Credit Suisse Bankers Got Secretaries to Do Their Compliance Training

Credit Suisse Bankers Got Secretaries to Do Their Compliance Training

Three bankers in the Swiss bank's loan-bundling unit got administrative assistants to complete required compliance training courses on their behalf. As punishment, they had to give back a portion of their 2015 bonuses.

JPMorgan, Bank Stocks Have Room to Run Higher in Slow-Motion Economy

JPMorgan, Bank Stocks Have Room to Run Higher in Slow-Motion Economy

Last week's market drop rattled investors with concerns about rising inflation and interest rates. Yet with the economy progressing at a slower pace than in past cycles, there's plenty of time left to profit from bank stocks like JPMorgan, Bank of America and Citigroup, typically among the biggest beneficiaries of economic growth, argues Sandler O'Neill.

Bank of America CEO Moynihan Gets 15% Pay Raise to $23 Million

Bank of America CEO Moynihan Gets 15% Pay Raise to $23 Million

The CEO's raise comes as the bank has reaped increasing lending revenue from Federal Reserve interest-rate hikes while opting not to pass along the higher rates to savers with deposit accounts. His pay was roughly 152 times that of the average worker at Bank of America, who saw pay held roughly flat at $151,125 in 2017.

AllianceBernstein Top Managers Hired Away by Goldman Sachs, Fidelity

AllianceBernstein Top Managers Hired Away by Goldman Sachs, Fidelity

AllianceBernstein CEO Seth Bernstein, in his job for just nine months, faces defections by senior managers just as he tries to win over the confidence of investor clients and shareholders.

Wells Fargo Credit-Rating Slashed by S&P After Fed Imposes Growth Ban

Wells Fargo Credit-Rating Slashed by S&P After Fed Imposes Growth Ban

The new credit rating at Wells Fargo is still in the upper tier on S&P's scale of investment-grade bond issuers, so the cut may have little immediate impact. But it's a sign that the scandal is taking an incremental toll on the bank's creditworthiness and could push up its borrowing costs slightly.

In Wells Fargo's Board `Refreshment,' There Are No Spa Treatments

In Wells Fargo's Board `Refreshment,' There Are No Spa Treatments

Wells Fargo, the embattled U.S. bank, plans to "refresh" its board to improve oversight of management. But corporate-governance experts say the term has become a euphemism for the delicate art of shaking up a failed board without blaming individual directors.