Nonbank Financial Services CEOs
May 06, 2005, 10:08 a.m. EDT 1 Min Read
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Nonbank Financial Services CEOs
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| Published May 6, 2005 | |||||||||||||
| Insurers | Salary | Bonus | Total cash compensation | Restricted stock awards1 | Long-term incentive payouts | Long-term performance plan2 | Number of stock options | Option value3 | Total compensation4 | Value realized upon exercise of options | Value of unexercised option holdings5 | Value of stock owned | Total equity value6 |
| John W. Rowe Aetna | $1,133,749 | $2,500,000 | $3,633,749 | $0 | $0 | $2,552,400 | 250,000 | $9,482,100 | $15,668,249 | $18,208,281 | $164,722,382 | $7,797,748 | $225,948,658 |
| Arthur F. Ryan Prudential Financial | 1,000,000 | 4,700,000 | 5,700,000 | 0 | 3,888,096 | 4,088,600 | 244,585 | 4,107,500 | 13,896,100 | 0 | 19,048,142 | 18,229,682 | 74,902,705 |
| Robert H. Benmosche MetLife | 1,100,000 | 3,800,000 | 4,900,000 | 0 | 3,921,900 | 3,750,200 | 415,000 | 4,960,500 | 13,610,700 | 0 | 17,448,906 | 1,255,040 | 55,162,246 |
| H. Edward Hanway Cigna | 1,030,000 | 2,600,000 | 3,630,000 | 0 | 7,980,000 | 3,813,800 | 241,000 | 5,161,400 | 12,605,200 | 1,693,300 | 15,976,400 | 40,336,528 | 95,067,628 |
| Edward M. Liddy Allstate | 1,119,993 | 3,677,834 | 4,797,827 | 1,627,500 | 2,325,000 | 1,431,900 | 272,000 | 2,841,300 | 10,698,527 | 17,122,730 | 41,291,280 | 20,954,358 | 108,160,249 |
| John D. Finnegan Chubb | 1,200,000 | 2,000,700 | 3,200,700 | 1,734,000 | 0 | 5,346,000 | 0 | 0 | 10,280,700 | 0 | 8,017,774 | 10,056,982 | 41,836,856 |
| Glenn M. Renwick Progressive | 750,000 | 2,250,000 | 3,000,000 | 7,052,100 | 0 | 0 | 0 | 10,052,100 | 2,893,007 | 33,018,685 | 29,756,951 | 88,772,843 | |
| Jon A. Boscia Lincoln National | 850,000 | 4,371,745 | 5,221,745 | 0 | 814,340 | 4,407,000 | 0 | 9,628,745 | 793,050 | 10,133,140 | 11,960,863 | 48,180,628 | |
| Daniel P. Amos Aflac | 1,200,000 | 2,196,000 | 3,396,000 | 0 | 0 | 0 | 477,231 | 5,849,600 | 9,245,600 | 5,016,423 | 93,611,189 | 282,948,341 | 403,940,384 |
| Jay S. Fishman St. Paul Travelers | 1,038,462 | 1,012,500 | 2,050,962 | 342,200 | 0 | 0 | 500,000 | 6,791,100 | 9,184,262 | 0 | 3,678,000 | 8,871,852 | 33,469,338 |
| Michael S. McGavick Safeco | 1,000,000 | 2,000,000 | 3,000,000 | 4,018,300 | 1,148,564 | 0 | 0 | 0 | 7,018,300 | 0 | 24,521,032 | 5,777,378 | 48,483,574 |
| Dennis R. Glass Jefferson-Pilot | 950,946 | 925,000 | 1,875,946 | 0 | 300,440 | 328,800 | 100,000 | 923,000 | 3,127,746 | 2,228,662 | 8,336,358 | 4,361,678 | 23,458,576 |
| C.B. Hudson Torchmark | 800,000 | 300,000 | 1,100,000 | 0 | 0 | 0 | 98,666 | 1,636,600 | 2,736,600 | 0 | 33,237,059 | 68,737,534 | 108,646,459 |
| Average | $1,013,319 | $2,487,214 | $3,500,533 | $1,136,469 | $1,567,565 | $1,978,362 | 199,883 | $3,211,777 | $9,827,141 | $3,688,881 | $36,387,719 | $39,311,149 | $104,310,011 |
| Broker-Dealers | |||||||||||||
| Richard S. Fuld Jr. Lehman Bothers | $750,000 | $10,250,000 | $11,000,000 | $9,895,700 | $0 | $0 | 450,000 | $9,042,900 | $29,938,600 | $13,883,928 | $81,890,250 | $377,358,022 | $544,459,400 |
| E. Stanley O'Neal Merrill Lynch | 700,000 | 0 | 700,000 | 27,709,700 | 0 | 0 | 0 | 0 | 28,409,700 | 0 | 41,999,033 | 60,138,900 | 159,657,333 |
| Henry M. Paulson Jr. Goldman Sachs | 600,000 | 0 | 600,000 | 26,604,400 | 0 | 0 | 0 | 0 | 27,204,400 | 0 | 8,571,236 | 412,786,142 | 476,366,178 |
| James E. Cayne Bear Stearns | 200,000 | 10,081,291 | 10,281,291 | 9,073,200 | 0 | 0 | 168,585 | 5,596,700 | 24,951,191 | 0 | 19,113,045 | 556,943,705 | 636,409,008 |
| Philip J. Purcell Morgan Stanley | 775,000 | 7,428,750 | 8,203,750 | 13,162,200 | 0 | 0 | 0 | 0 | 21,365,950 | 18,062,781 | 15,167,941 | 180,873,305 | 265,039,677 |
| Mitchell H. Caplan E-Trade | 750,000 | 2,814,000 | 3,564,000 | 1,389,000 | 0 | 0 | 878,488 | 5,852,200 | 10,805,200 | 4,725,323 | 25,566,668 | 26,928,897 | 83,273,776 |
| Charles R. Schwab Charles Schwab | 900,000 | 0 | 900,000 | 0 | 0 | 0 | 300,000 | 2,097,800 | 2,997,800 | 0 | 27,169,002 | 2,987,408,806 | 3,021,773,408 |
| Average | $667,857 | $4,367,720 | $5,035,577 | $12,547,743 | $0 | $0 | 256,725 | $3,227,086 | $20,810,406 | $5,238,862 | $31,353,882 | $657,491,111 | $740,996,969 |
| Others (includes non-CEO executives) | |||||||||||||
| Kenneth I. Chenault American Express | $1,000,000 | $6,000,000 | $7,000,000 | $2,807,700 | $500,000 | $1,184,400 | 486,000 | $8,578,000 | $19,570,100 | $8,021,342 | $73,695,723 | $81,126,689 | $209,969,954 |
| Sanford I. Weill Citigroup | 1,000,000 | 8,415,000 | 9,415,000 | 6,285,400 | 0 | 0 | 0 | 0 | 15,700,400 | 12,286,585 | 22,027,956 | 799,709,948 | 874,840,289 |
| Martin L. Flanagan Franklin Resources | 789,138 | 2,650,000 | 3,439,138 | 2,209,600 | 0 | 0 | 45,000 | 764,300 | 6,413,038 | 0 | 10,723,141 | 36,606,217 | 63,639,572 |
| Gregory E. Johnson Franklin Resources | 789,137 | 2,650,000 | 3,439,137 | 2,209,600 | 0 | 0 | 45,000 | 764,300 | 6,413,037 | 0 | 8,913,232 | 27,955,388 | 53,178,831 |
| Robert J. Genader Ambac Financial Group | 525,000 | 1,012,500 | 1,537,500 | 1,779,800 | 0 | 0 | 100,000 | 2,302,200 | 5,619,500 | 449,447 | 15,972,827 | 47,179,250 | 76,478,024 |
| Steven L. Scheid (hired 4/20/04) Janus Capital Group | 619,500 | 760,000 | 1,379,500 | 741,800 | 0 | 0 | 364,543 | 2,958,900 | 5,080,200 | 0 | 673,130 | 4,019,876 | 16,597,449 |
| Average | $787,129 | $3,581,250 | $4,368,379 | $2,672,317 | $83,333 | $197,400 | 173,424 | $2,561,283 | $9,799,379 | $3,459,562 | $22,001,002 | $166,099,561 | $215,784,020 |
Notes:
1. Expected value calculated at grant date and discounted for risk of forfeiture.
2. Expected value calculated at grant date and discounted for risk of forfeiture, expected inflation.
3. Expected value calculated using Black-Scholes methodology, discounted for risk of forfeiture.
4. Sum of salary, bonus, and expected value of restricted stock, performance plans, and stock options.
5. Potential value of exercisable and unexercisable options at fiscal yearend.
6. Sum of the value of stock directly owned and the potential value of unexercised options at fiscal yearend.
Source: Executive Compensation Resources
© 2005 American Banker