MutualFundWire.com: Is Larry Fink Number 14 or Number 16?

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Monday, May 9, 2011

Is Larry Fink Number 14 or Number 16?

Two different lists rank Larry Fink at the top of the financial services industry in terms of CEO pay at the biggest companies in the country. On Friday the AP unveiled its list for pay for S&P 500 CEO pay in 2010[see The MFWire, 6/6/2011] , and today the Wall Street Journal's Joann Lublin revealed the Journal's own list, compiled by Hay Group, which considered 350 large companies. Both lists appear to include only CEOs of large, publicly-trade companies.

Larry Fink
BlackRock
CEO

The two lists worked slightly differently (the Journal added up "salary, bonuses, and the granted value of stock, stock options and other long-term incentives given" but excluded exercised options and restricted stock vesting, while the AP added "salary, perks, bonuses, preferential interest rates on pay set aside for later, and company estimates for the value of stock options and stock awards on the day they were granted last year") and thus came up with slightly different results for Fink, the CEO of the world's largest asset manager, BlackRock [see profile]. The AP ranked Fink at number 14 with $23.8 million, while on the WSJ list he came in at 16 with $23.65 million. Yet he topped all other financial services executives on both lists.

Several financial services CEOs whose companies own asset managers with mutual fund firms made the WSJ's list, including: Jamie Dimon of JPMorgan Chase, $23 million [see profile]; James Cracchiolo of Columbia Management parent Ameriprise, $18.025 million [see profile]; John Stumpf of Wells Fargo, $17.539 million [see profile]; John Strangfeld of Prudential, $16.931 million [see profile]; Lloyd Blankfein of Goldman Sachs, $16.71 million [see profile]; Robert Kelly of Dreyfus parent Bank of New York Mellon, $15.4657 million [see profile]; Larry Zimpleman of the Principal, $5.9901 million [see profile]; and Kevin Kabat of Fifth Third Bancorp, $4.7172 million [see profile].

Printed from: MFWire.com/story.asp?s=36747

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