As a part of its series on global pay for bankers, Financial News has compiled a list of the top 10 highest paid female banking executives at banks around the world.
Topping the list is Mary Callahan Erdoes, chief executive of asset management for J.P. Morgan. Last year, she took home $15.4 million, not including her pension or other benefits; her base salary of $729,167 was bolstered by a $4.7 million bonus and additional stock-based compensation.
Second was Ina Drew, also of J.P. Morgan, where she serves as chief investment offer, whose salary and bonuses totaled $14 million. Other rainmakers were Ruth Porat, Morgan Stanley's chief financial officer, who brought home $8.8 million, Carrie Tolstedt, senior executive vice president of community banking for Wells Fargo, who made $8.6 million, and Ellen Alemany, head of RBS' Americas division, who was paid $7.4 million.
Of the list, six women work for U.S.-based firms, two for Canadian banks, and two are from institutions based in Europe. (Financial News)
Citigroup chief Vikram Pandit and the company's directors have been sued by a shareholder over the hefty pay awarded to executives of the bank last year.
A fired Crédit Agricole banker trying to collect his bonus has lost his suit in court. His dismissal was unfair, the court deemed, but didn't fall under the whistleblower rules that would allow him to collect compensation.
Mark your calendars: Banks have until July 21, 2014 to implement guidelines set forth by the "Volcker rule," a provision of the Dodd-Frank Act that restricts proprietary trading.
Jobs in the First State (Cape Gazette)
J.P. Morgan Chase will add 1,200 employees in Delaware as the bank prepares to make a $50 million investment in the state.
Everything is Gonna Be Alright (Forbes)
Warren Buffett, who announced he has prostate cancer this week, sent a reassuring letter to shareholders. They're anxious about his succession plans for Berkshire Hathaway.
It's All in the Family (DealBook)
The Securities and Exchange Commission filed securities fraud charges against two pairs of relatives, a father and son in Boston, both hedge fund managers, and twin brothers in England who set up a fraudulent stock-picking scheme.
The Tables Have Turned (Reuters)
Rogue trader Jerome Kerveil is suing Société Générale, his former employer, for allegedly providing false evidence and hiding potentially incriminating evidence in order to convict him of a crime.
Ronnie Golan, the emerging markets leader at Morgan Stanley, left the firm after 15 years. Speculation says he's defecting for a rival.
Buzz Around the Office
A Grown Man's Treehouse (You Tube)
Sadly, he might lose it.
List of the Day: Attitude Check
Even if you are the best at your job, your attitude can go a long way.
1. Avoid showing signs of desperation
2. Try to stay confident and conversational, but not cocky
3. Don't forget to keep smiling
(Source: Glassdoor.com)
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