Partners Kelly Malafis and Shaun Bisman’s exclusive research on executive pay at large and midsize banks was recently published in an article by American Banker. The article reveals that median total compensation for chief executives at 53 large and midsize banks fell 6.6% (vs. 21.5% increase in 2021 and 7% increase in 2022). The median bonus for the CEOs was down 30% from the previous year (increased 6.1% in 2022). Their long-term incentives increased 3.1% increase from 2021 (increased 6.1% in 2022). Median salaries rose 3.1% (which was in line with 2022 increases).
Partners Kelly Malafis and Shaun Bisman’s exclusive research on CEO pay at large and midsize banks led to an article in American Banker discussing outlier CEO pay increases among banks for 2023. In the article, Shaun and Kelly discuss how bank CEO bonuses were generally down (due to bank failures and high interest rates) but there were five outlier banks (PNC, First Horizon, United Bankshares, BOK Financial and FNB Corporation) that saw increases in 2023.
Partner Kelly Malafis and Principal Shaun Bisman’s research about bank CEO pay was cited by American Banker in February 2024. The article discusses how much the CEO’s of JPMorgan Chase, Bank of America, Wells Fargo, Morgan Stanley and Capital One Financial were paid in 2023, based on the banks’ own reporting.
American Banker’s Allissa Kline speaks with Principal Shaun Bisman and Partner Kelly Malafis of Compensation Advisory Partners about the latest trends in bank executive compensation, including the future of retention awards and what to expect for the rest of the year.
Partner Kelly Malafis and Principal Shaun Bisman’s exclusive research on retention-based pay was recently published by American Banker. The research revealed that, this year, only a handful of large and midsize banks have reported granting any kind of special awards compared to more than a dozen doing so during the 2022 proxy season. Bisman shares that the decline in these types of rewards reflects growing unease about a potential recession and the uncertainty about banks’ financial performance. Malafis shares that the number of banks granting retention awards to top-ranking executives will probably remain low this upcoming year due to the economic outlook.
Partner Kelly Malafis and Principal Shaun Bisman’s exclusive research on executive pay at large and midsize banks was recently published in an article by American Banker. The article reveals that median total compensation for chief executives at 59 large and midsize banks rose 7%. The median bonus for the CEOs was $1.7 million, a 6.1% increase from the previous year. Their long-term incentives had a median of $3 million, also a 6.1% increase from 2021. Median salary was just over $1 million which represents a 2.7% increase.
CAP data was recently referenced to by American Banker in their recent article discussing some CEO pay cuts at some of the biggest banks in the U.S. in 2022. CAP provided data analysis based on the banks’ most recent proxy statements about 2022 CEO pay packages for seven of the largest nation’s largest banks. Some notable pay cuts include PNC Financial Services Group CEO William Demchak with a 15% decrease and Bank of America CEO Brian Moynihan with a 6% decrease in total compensation compared to 2021.
