Top CEO Says 'We Will Remain Competitive' On Pay

The Wall Street Journal reports that, according to a regulatory filing, John Stumpf, CEO of Wells Fargo, received $21.3m in total comp last year.

David Carroll, the head of the firm's brokerage unit, bagged $14.3m, and David Hoyt, who heads up the wholesale banking operation, got $10.9m. CFO Howard Atkins received $11.6m.

In the meantime, Reuters reports that Standard Chartered has confirmed it will pay out $1.1bn in bonuses for 2009, and that CEO Peter Sands will be donating his $3.2m bonus to charity.

Sands said: '(The fight for talent) in our markets (is) very competitive, with a lot of competition for the best talent. We will remain competitive in the way we compensate people'.

And Dow Jones Newswires reports that HSBC CEO Michael Geoghegan has been given an additional $451,000-a-year for living costs following his move to Hong Kong.

Finally, The New York Post reports that new CIT Group CEO John Thain has confirmed that no staff bonuses will be paid out for 2009, a year the firm went into bankruptcy.

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