The compensation of CEOs at major Wall Street firms has returned to 2006 levels
After years of restraint following the 2008 global financial crisis, Wall Street is now granting record pay to its CEOs. The annual compensation for CEOs of major U.S. banks has now surpassed $40 million across the board, exceeding the levels seen in 2006 and 2021. Bank of America CEO Brian Moynihan is the latest executive to disclose his compensation, which increased by 17% last year to $41 million. Citigroup has raised CEO Jane Fraser's pay by 22% to $42 million. This move, following years of underperformance compared to peers, signifies the board's strong confidence in her ability to turn the situation around
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