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16 junio 2011 4 16 /06 /junio /2011 18:59

Bank chiefs’ pay rises by 36%.

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La retribución media de los banqueros responsables de los 15 mayores bancos europeos y estadounidenses aumentó un 36% el 2010, hasta 9.7 millones de dólares. Ese aumento contrasta con la discreta evolución de las ganancias de esas mismas entidades, que sólo crecieron un 2,9%.

Los mayores banqueros del mundo se suben el sueldo un 36%

La retribución media se sitúa en unos 6,8 millones, según Financial Times. El beneficio creció un 2,9%

A. M. V. / AGENCIAS MADRID 16/06/2011La

En lo que respecta a los sueldos de los banqueros, "la era de la contención se ha terminado", escribía el Financial Times (FT) este 14 de junio. Según un informe encargado por el rotativo británico a Equilar, una consultora especializada en analizar los sueldos de ejecutivos empresariales, el año pasado, la retribución media de los máximos responsables de los 15 mayores bancos europeos y estadounidenses aumentó un 36%, hasta 9,7 millones de dólares (unos 6,8 millones de euros). Ese incremento contrasta con la discreta evolución de las ganancias de esas mismas entidades, que sólo crecieron un 2,9%.

El primer español en el ranking del FT es el presidente del BBVA, Francisco González, que ha descendido del quinto al décimo puesto, al bajarse un 10% el sueldo en 2010, hasta 5,6 millones de euros. Sorprendentemente, el estudio no tiene en cuenta al Banco Santander, el primer banco europeo, ni al suizo UBS. Según Equilar, esas entidades "no proporcionan un desglose comparable".

El presidente de JP Morgan aumenta un 1.541% su remuneración

En el caso del Santander, sí lo hay: según la memoria anual del banco, su consejero delegado, Alfredo Sáenz, cobró el año pasado 9,1 millones de euros, un 10,3% menos respecto a 2009 (10,2 millones). Sáenz se mantuvo así como el banquero mejor pagado de España. Y, a tenor de los datos publicados por el FT, también de Europa. De incluirse en el ranking mundial, sería quinto.

A la cabeza de esa lista estáel presidente del estadounidense JP Morgan Chase, JamieDimon, que en 2009 figuraba en el puesto número 13 y que ha incrementado su remuneración nada menos que un 1.541%, al pasar de 1,2 millones de dólares a 20,7 millones. Desbanca en el número uno a John Stumpf, presidente de Wells Fargo, también estadounidense, cuya retribución ha caído un 6%, hasta 17,5 millones de dólares (12,2 millones de euros). En tercer lugar está James P. Gorman, sustituto de John Mack como consejero delegado de Morgan Stanley, con 14,8 millones de dólares (10,3 millones de euros).

Lloyd Blankfein, presidente de Goldman Sachs y que dijo que los banqueros hacían "el trabajo de dios", destaca por el espectacular incremento de su sueldo (1.536%), hasta 14,1 millones de dólares (9,8 millones de euros). Ha pasado de la cola del ranking a la cuarta posición.

En el quinto puesto del escalafón del FT está el primer europeo, Brady Dougan, consejero delegado de CreditSuisse, con 11,8 millones de dólares (8,2 millones de euros), un 33% menos. Le sigue de cerca Stephen Hester, su homólogo del Royal Bank of Scotland (que tuvo que ser rescatado por el Estado británico). Pierde dos puestos, con 11,5 millones de dólares (8 millones de euros).

La banca gana
Jamie Dimon: JP Morgan Chase (EEUU)

En 2010, Dimon cobró 20,7 millones de dólares, después de que el banco batiera su récord de beneficio (17.400 millones de dólares). En sólo un año, la retribución de Dimon ha crecido un 1.541%.

Lloyd Blankfein: Goldman Sachs

También a la cabeza de los incrementos de sueldo, con un 1.536% en sólo un año, hasta 14,1 millones de dólares, pese a que los beneficios del banco de inversión cayeron en 2009 un 37%.

Brady Cougan: Credit Suisse

Según el ranking del FT, Cougan sería el quinto banquero mejor pagado del mundo, con 8,2 millones de euros, un 33% menos. Sin embargo, Alfredo Sáenz, del Santander, le supera de largo (9,1 millones).

Francisco González: BBVA

El presidente del BBVA es el primer español en el ranking del rotativo británico. Es décimo en el escalafón (frente al quinto puesto de 2009), tras bajarse el sueldo un 10% el año pasado, hasta 5,6 millones.

Los mayores banqueros del mundo se suben el sueldo un 36% - Público.es
www.publico.es/.../los-mayores-banqueros-del-mundo-se-suben-el-sueldo-un-36

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Bank chiefs’ pay rises by 36%

By Megan Murphy and Sharlene Goff in London

Published: June 14 2011 21:02 | Last updated: June 14 2011 21:02

Bank chiefs’ average pay in the US and Europe leapt 36 per cent last year to $9.7m, according to data compiled for the Financial Times, despite variable performance across the sector.

Two of the industry’s biggest names – Jamie Dimon, the JPMorgan Chase chief executive, and Goldman Sachs’ Lloyd Blankfein – were paid more than 15 times their 2009 earnings. Mr Dimon received nearly $21m in 2010, topping the FT’s survey of the salary and bonus packages awarded to 15 top bankers. Mr Blankfein earned $14.1m, including a $5.4m cash bonus – up from $863,000 in 2009.

In the UK, the chief executives of Barclays, HSBC, Lloyds Banking Group and Royal Bank of Scotland were awarded cash and stock bonuses valued at more than $26m last year. That contrasts with 2009, when all four declined bonuses in a nod to public and political furore.

The analysis by Equilar, the US-based pay research company, shows chief executive pay at several banks is still significantly lower than its pre-crisis high. Mr Blankfein earned more than $70m at Goldman in 2007 while Mr Dimon received $40m in 2006.

Regulators have declined to impose caps on bank pay, instead introducing changes they believe will limit incentives to take excessive risks

That has led many banks to increase fixed salaries, reduce employees’ reliance on annual bonuses and defer cash and stock awards over several years.

“The real story around pay is the progress on ensuring bonuses are deferred, paid in shares and subject to clawback and performance targets, rather than the headline figure,” said Angela Knight, British Bankers’ Association chief executive.

The Equilar analysis shows, however, that salary is generally only a fraction of total pay-outs. James Gorman, Morgan Stanley chief executive, was paid $14.9m in 2010, only $800,000 of which was fixed salary. A $9.3m stock bonus awarded to Brady Dougan, Credit Suisse chief executive, was four times his fixed pay-out.

Two of the biggest winners in the 2010 pay stakes were UK chief executives who have since left their employers. Eric Daniels, former head of Lloyds Banking Group, was awarded $8.4m last year, up from $5m in 2009. Former Barclays head John Varley earned nearly $6m, a 239 per cent increase on 2009.

 

 Bank chiefs ditch the hair shirts

 

 The leap in average pay last year for the chief executives of 15 leading US and European banks suggests the era of contrition for the financial crisis is well and truly over.

Gone were 2008’s and 2009’s grand gestures, when bank bosses on both sides of the Atlantic waived their bonuses to defuse public and political outrage over pay. In 2010, according to data exclusively compiled for the Financial Times by Equilar, the executive compensation research firm, total pay for these chief executives rose by 36 per cent to $9.7m.

Lloyd BlankfeinLloyd Blankfein (left), chief executive of Goldman Sachs, was paid $14m in 2010, more than 15 times his 2009 earnings, as senior bankers collectively shed their hair shirts. Fourteen out of the 15 chief executives included in the survey accepted a cash or stock bonus, versus six in 2009.

But across those same 15 institutions revenues rose by an average of just 2.9 per cent, amid weaker-than-expected market conditions and a regulatory overhaul that has dramatically curtailed some riskier activities.

Profitability, meanwhile, varied widely. Bank of America posted a year-on-year net loss of $2.2bn in 2010, while Goldman’s profits slumped by 37 per cent, to $8.4bn. By contrast, some of the institutions hit hardest by the crisis, such as Morgan Stanley and France’s Société Générale, dramatically boosted earnings after dismal performances in 2009. Across the 15 banks surveyed, eight reported higher annual profits, while seven reported lower.

Bankers rebut politicians’ accusations that they have simply returned to business as usual after two years of paying lip service to public indignation. Even at $14m, Mr Blankfein is earning a fraction of the $70m he took home in 2007. Dick Fuld, the man at the head of Lehman Brothers when it collapsed into bankruptcy, earned $34m that year.

Global regulators, convinced that bankers’ reliance on bonus payments encouraged excessive risk and short-term decision making, have demanded banks overhaul the structure of executive pay to align risk better with long-term institutional performance.

Banks have responded largely by altering the mix of pay awarded, rather than reducing the overall amount. Bonus payments are now staggered over several years, with a larger proportion paid in stock instead of cash. Equilar’s analysis shows that, in 2010, the value of stock and option bonuses awarded to bank CEOs exceeded cash payments at two-thirds of the groups included in the survey.

Brady Dougan, chief executive of Credit SuisseMost banks have also raised fixed salaries. Goldman, for example, in January announced that it would more than treble Mr Blankfein’s salary to $2m this year, while Brady Dougan (right), chief executive of Credit Suisse, and Deutsche Bank’s Josef Ackermann both received significant salary increases in 2010.

Equilar’s analysis is based on information in public filings and material circulated to shareholders. However, because disclosure requirements vary between jurisdictions, the survey excludes banks, including UBS and Santander, that do not disclose a comparable breakdown of executive pay.

For different reasons, Vikram Pandit, chief executive of Citigroup, which received a $45bn bail-out during the crisis, does not appear in 2010’s top 15 banking earners. In 2009, he pledged to lawmakers that he would accept only a $1 salary until the US banking group returned to profitability. Citigroup has since boosted his base salary to $1.75m after the bank posted a $10.6bn net profit last year, and he is expected to re-enter the top 15 rankings this year.

Significantly, Equilar accounts for stock and option awards in the fiscal year in which they were granted, even if they were awarded for performance in a prior year. That means that a $9m all-stock bonus given to Brian Moynihan, chief executive of Bank of America, in January 2011 for his work in 2010, for example, was not recorded in his 2010 pay figure.

Equilar also does not include realised gains on equity awards granted in prior years, or the total value of CEOs’ retirement plans or accumulated stakes in their employers.

Those are traditionally significant components of bank pay. JPMorgan Chase’s Jamie Dimon, the top earner in this year’s survey with total pay of nearly $21m, realised an additional $35m from prior stock and option awards in 2010, according to Equilar.

The size of those awards reflect the fact that public outrage over bankers’ pay has receded somewhat, particularly in the US, where the economic recovery has been stronger and public sector cuts less draconian than in the UK and parts of continental Europe.

Despite the leap in top bankers’ pay, the gap between the average total pay earned by banking chief executives and chief executives in other industries remained much narrower than before the financial crisis.

According to a separate analysis by Equilar, the average total pay package awarded to the chief executive of a Standard & Poor’s 500 company was about $11m in 2010 compared with average bank CEO pay of $9.7m. Political pressure, tougher capital requirements and a crackdown on banks’ riskiest – and most profitable – business lines make it unlikely senior bankers will dramatically narrow that gap for several years, pay experts say.

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