12 Wall Street execs took home over $1 bn in 5 yrs

In the midst of a financial turmoil, raising questions over fat executive pay packets, a media report listed out 12 top bankers of Wall Street who collectively took home over one billion dollars in thepast five years including Lehman Brothers' Chief Richard Fuld.

In the midst of a financial turmoil, raising questions over fat executive pay packets, a media report on Tuesday listed out 12 top bankers of Wall Street who collectively took home over one billion dollars in thepast five years including Lehman Brothers’ Chief Richard Fuld.

The total take-home pay of the 12 bankers, current and former chiefs of some of the biggest names in the US financial space, stands at USD 1,053.15 million during 2003-07, as per data compiled by the New York Times.

The report listed out Citigroup’s India-born Chief Executive Vikram Pandit, JP Morgan Chase’s James L Dimon and Goldman Sachs’ Lloyd C Blankfein, among others.

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Fuld, who is also the Chairman of Lehman Brothers’, took home USD 256.41 million.

“As recently as June 2008, Fuld said he was confident that Lehman was sound even as the bank posted a second-quarter loss of USD 2.8 billion. But on September 15, Lehman filed for bankruptcy and began sliding towards an eventual liquidation,” the report said.

According to the report prepared with data provided by executive compensation research firm Equilar, Bank of America Chairman and Chief Executive Kenneth D Lewis took home USD 133.36 million, while Dimon pocketed USD 108.72 million.

However, Pandit’s salary is calculated only for a month, since he joined the banking behemoth only in December 2007. He received a compensation of USD 250,000 in that month.

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Blankfein, Chief Executive and chairman at Goldman Sachs pocketed USD 102.74 million.

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