THE TOP 50

THE HIGHEST-PAID CEOS AT THE LARGEST U.S.-BASED FINANCIAL COMPANIES

KKR’s Kravis and his cousin Roberts were pioneers in the leveraged-buyout business.

SEBASTIAN KAHNERT/DPA/CORBISCREDITS HERE

KEY

DIRECT PAY CONSISTS OF SALARY, BONUS, NONEQUITY PAY AND OTHER COMPENSATION. INDIRECT PAY IS THE VALUE OF STOCK OPTIONS AND RESTRICTED STOCK GRANTED DURING THE FISCAL YEAR. STOCK RETURN IS FOR THE COMPANIES’ 2011 FISCAL YEAR.

1 HENRY KRAVIS, KKR

DIRECT PAY (IN MILLIONS) $30.0

INDIRECT PAY (IN MILLIONS) $0.0

TOTAL 2011 PAY (IN MILLIONS) $30.0

CHANGE FROM 2010 +49.0%

STOCK RETURN -5.4%

2 GEORGE ROBERTS, KKR

DIRECT PAY 29.9

INDIRECT PAY 0.0

TOTAL 2011 PAY 29.9

CHANGE FROM 2010 +49.0

STOCK RETURN -5.4

3 JOHN STRANGFELD, Prudential Financial

DIRECT PAY 16.9

INDIRECT PAY 6.8

TOTAL 2011 PAY 23.7

CHANGE FROM 2010 +7.9

STOCK RETURN -12.1

4 JAMIE DIMON, JPMorgan Chase

DIRECT PAY 6.1

INDIRECT PAY 17.0

TOTAL 2011 PAY 23.1

CHANGE FROM 2010 +11.0

STOCK RETURN -20.0

5 KENNETH I. CHENAULT, American Express

DIRECT PAY 5.6

INDIRECT PAY 17.5

TOTAL 2011 PAY 23.0

CHANGE FROM 2010 +37.0

STOCK RETURN -11.6

6 LARRY FINK, BlackRock

DIRECT PAY 8.8

INDIRECT PAY 13.1

TOTAL 2011 PAY 21.9

CHANGE FROM 2010 -8.2

STOCK RETURN -3.6

7 JOHN STUMPF, Wells Fargo

DIRECT PAY 7.8

INDIRECT PAY 12.0

TOTAL 2011 PAY 19.8

CHANGE FROM 2010 +4.6

STOCK RETURN -9.5

8 JAMES CRACCHIOLO, Ameriprise Financial

DIRECT PAY 11.2

INDIRECT PAY 7.6

TOTAL 2011 PAY 18.8

CHANGE FROM 2010 +6.3

STOCK RETURN -12.

9 RICHARD FAIRBANK, Capital One Financial

DIRECT PAY 0.2

INDIRECT PAY 18.5

TOTAL 2011 PAY 18.7

CHANGE FROM 2010 +25.6

STOCK RETURN -0.2

10 JIM ROHR, PNC Financial Services

DIRECT PAY 7.7

INDIRECT PAY 8.9

TOTAL 2011 PAY 16.6

CHANGE FROM 2010 0.0

STOCK RETURN -3.1

11 JAY FISHMAN, Travelers

DIRECT PAY $6.2

INDIRECT PAY $10.3

TOTAL 2011 PAY $16.5

CHANGE FROM 2010 -16.9%

STOCK RETURN +9.3%

12 LLOYD BLANKFEIN, Goldman Sachs Group

DIRECT PAY 5.5

INDIRECT PAY 10.7

TOTAL 2011 PAY 16.2

CHANGE FROM 2010 +14.5

STOCK RETURN -45.6

13 JOSEPH HOOLEY, State Street

DIRECT PAY 8.1

INDIRECT PAY 8.1

TOTAL 2011 PAY 16.2

CHANGE FROM 2010 NA

STOCK RETURN -11.5

14 JOHN FINNEGAN, Chubb

DIRECT PAY 7.8

INDIRECT PAY 8.0

TOTAL 2011 PAY 15.7

CHANGE FROM 2010 -22.4

STOCK RETURN +19.0

15 VIKRAM PANDIT, Citigroup

DIRECT PAY 7.0

INDIRECT PAY 7.8

TOTAL 2011 PAY 14.9

CHANGE FROM 2010 *

STOCK RETURN -44.3

16 DANIEL AMOS, Aflac

DIRECT PAY 5.7

TOTAL 2011 PAY 14.6

CHANGE FROM 2010 -8.3

STOCK RETURN -21.3

17 BRIAN DUPERREAULT, Marsh & McLennan

DIRECT PAY 6.3

INDIRECT PAY 8.3

TOTAL 2011 PAY 14.6

CHANGE FROM 2010 +2.1

STOCK RETURN +19.1

18 FREDERICK H. WADDELL, Northern Trust

DIRECT PAY 6.7

INDIRECT PAY 7.6

TOTAL 2011 PAY 14.3

CHANGE FROM 2010 +12.1

STOCK RETURN -26.6

19 ROBERT BENMOSCHE, AIG

DIRECT PAY 3.1

INDIRECT PAY 10.9

TOTAL 2011 PAY 14.0

CHANGE FROM 2010 +66.0

STOCK RETURN -51.9

20 DAVID NELMS, Discover Financial Services

DIRECT PAY 4.3

INDIRECT PAY 9.6

TOTAL 2011 PAY 13.9

CHANGE FROM 2010 +62.4

STOCK RETURN +31.4

21 RICHARD DAVIS, U.S. Bancorp

DIRECT PAY 8.1

INDIRECT PAY 5.5

TOTAL 2011 PAY 13.6

CHANGE FROM 2010 -27.4

STOCK RETURN +2.3

22 MARTIN L. FLANAGAN, Invesco

DIRECT PAY 5.1

INDIRECT PAY 8.3

TOTAL 2011 PAY 13.4

CHANGE FROM 2010 +6.6

STOCK RETURN -14.6

23 JAMES GORMAN, Morgan Stanley

DIRECT PAY 3.5

INDIRECT PAY 9.4

TOTAL 2011 PAY 13.0

CHANGE FROM 2010 -14.5

STOCK RETURN -43.9

24 GREGORY CASE, Aon

DIRECT PAY 2.8

INDIRECT PAY 9.2

TOTAL 2011 PAY 12.0

CHANGE FROM 2010 -42.2

STOCK RETURN +3.0

25 RAY McDANIEL, Moody’s

DIRECT PAY 9.2

INDIRECT PAY 2.8

TOTAL 2011 PAY 11.9

CHANGE FROM 2010 +30.3

STOCK RETURN +29.0

26 JOSEPH W. SAUNDERS, Visa

DIRECT PAY 5.0

INDIRECT PAY 6.8

TOTAL 2011 PAY 11.8

CHANGE FROM 2010 -8.4

STOCK RETURN +16.3

27 THOMAS WILSON, Allstate

DIRECT PAY 4.6

INDIRECT PAY 6.6

TOTAL 2011 PAY 11.2

CHANGE FROM 2010 +20.2

STOCK RETURN -11.5

28 WALTER BETTINGER, Charles Schwab

DIRECT PAY 3.6

INDIRECT PAY 6.5

TOTAL 2011 PAY 10.1

CHANGE FROM 2010 +0.9

STOCK RETURN -33.1

29 JAMES TISCH, Loews

DIRECT PAY 9.0

INDIRECT PAY 1.1

TOTAL 2011 PAY 10.1

CHANGE FROM 2010 +19.4

STOCK RETURN -2.6

30 GREGORY JOHNSON, Franklin Resources

DIRECT PAY 3.5

INDIRECT PAY 6.4

TOTAL 2011 PAY 9.9

CHANGE FROM 2010 +46.8

STOCK RETURN -9.7

31 GLENN RENWICK, Progressive

DIRECT PAY $2.1

INDIRECT PAY $7.5

TOTAL 2011 PAY $9.6

CHANGE FROM 2010 +0.1%

STOCK RETURN +0.2%

32 LARRY ZIMPLEMAN, Principal Financial

DIRECT PAY 5.4

INDIRECT PAY 3.8

TOTAL 2011 PAY 9.2

CHANGE FROM 2010 +11.6

STOCK RETURN -22.3

33 JEFFREY SPRECHER, IntercontinentalExchange

DIRECT PAY 3.4

INDIRECT PAY 5.3

TOTAL 2011 PAY 8.7

CHANGE FROM 2010 +172.5

STOCK RETURN +1.2

34 THOMAS MOTAMED, CNA Financial

DIRECT PAY 5.1

INDIRECT PAY 3.3

TOTAL 2011 PAY 8.4

CHANGE FROM 2010 -11.8

STOCK RETURN +0.4

35 AJAY BANGA, MasterCard

DIRECT PAY 3.4

INDIRECT PAY 4.9

TOTAL 2011 PAY 8.3

CHANGE FROM 2010 -29.7

STOCK RETURN +66.7

36 JOHN A. THAIN, CIT Group

DIRECT PAY 2.4

INDIRECT PAY 5.8

TOTAL 2011 PAY 8.2

CHANGE FROM 2010 +22.8

STOCK RETURN -26.0

37 BRIAN MOYNIHAN, Bank of America

DIRECT PAY 2.0

INDIRECT PAY 6.1

TOTAL 2011 PAY 8.1

CHANGE FROM 2010 +316.9

STOCK RETURN -58.1

38 HIKMET ERSEK, Western Union

DIRECT PAY 3.5

INDIRECT PAY 4.4

TOTAL 2011 PAY 7.9

CHANGE FROM 2010 NA

STOCK RETURN +0.1

39 LIAM McGEE, Hartford Financial Services

DIRECT PAY 1.4

INDIRECT PAY 6.5

TOTAL 2011 PAY 7.9

CHANGE FROM 2010 -25.1

STOCK RETURN -37.5

40 JAMES KENNEDY, T. Rowe Price Group

DIRECT PAY 5.9

INDIRECT PAY 2.0

TOTAL 2011 PAY 7.9

CHANGE FROM 2010 +10.5

STOCK RETURN -9.8

41 KELLY KING, BB&T

DIRECT PAY 5.3

INDIRECT PAY 2.2

TOTAL 2011 PAY 7.5

CHANGE FROM 2010 -28.2

STOCK RETURN -1.9

42 KEVIN KABAT, Fifth Third Bancorp

DIRECT PAY 2.8

INDIRECT PAY 4.5

TOTAL 2011 PAY 7.2

CHANGE FROM 2010 +50.1

STOCK RETURN -11.3

43 ALBERT LORD, SLM

DIRECT PAY 3.7

INDIRECT PAY 3.3

TOTAL 2011 PAY 7.0

CHANGE FROM 2010 +27.6

STOCK RETURN +8.7

44 JEFFERY YABUKI, Fiserv

DIRECT PAY 2.1

INDIRECT PAY 4.6

TOTAL 2011 PAY 6.7

CHANGE FROM 2010 +14.1

STOCK RETURN +0.3

45 GRAYSON HALL, Regions Financial

DIRECT PAY 2.8

INDIRECT PAY 3.6

TOTAL 2011 PAY 6.4

CHANGE FROM 2010 +24.7

STOCK RETURN -38.1

46 CRAIG DONOHUE, CME Group

DIRECT PAY 2.9

INDIRECT PAY 3.1

TOTAL 2011 PAY 6.0

CHANGE FROM 2010 -13.1

STOCK RETURN -22.7

47 FRED TOMCZYK, TD Ameritrade

DIRECT PAY 2.4

INDIRECT PAY 3.6

TOTAL 2011 PAY 6.0

CHANGE FROM 2010 +0.1

STOCK RETURN -8.0

48 STEPHEN SCHWARZMAN, Blackstone Group

DIRECT PAY 5.0

INDIRECT PAY 0.0

TOTAL 2011 PAY 5.0

CHANGE FROM 2010 +75.5

STOCK RETURN +3.0

49 ROBERT G. WILMERS, M&T Bank

DIRECT PAY 2.3

INDIRECT PAY 0.7

TOTAL 2011 PAY 2.9

CHANGE FROM 2010 +15.4

STOCK RETURN -9.2

50 WARREN BUFFETT, Berkshire Hathaway

DIRECT PAY 0.5

INDIRECT PAY 0.0

TOTAL 2011 PAY 0.5

CHANGE FROM 2010 -6.3

STOCK RETURN -4.7

* Was paid $1 in 2010.

Pay figures come from the summary compensation tables in companies’ 2011 proxy statements, which show what CEOs received during the year. To be included in the ranking, CEOs must have held the job for all of their company’s 2011 fiscal year. NA indicates that the CEO was hired during 2010. Figures for direct and indirect pay may not add up to total pay because of rounding.

Sources: Bloomberg, company proxy statements and 10-K filings.

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