'It Doesn't Look Good': Lawmakers Grill Bank CEOs on Lavish Pay - Yahoo Finance -BoardProspects

'It Doesn't Look Good': Lawmakers Grill Bank CEOs on Lavish Pay

Yahoo Finance Apr 10 2019 BoardNews

The seven big bank CEOs who testified on Capitol Hill Wednesday morning are facing pressure over their lavish compensation. In an exchange between New York Democrat Nydia Velázquez and Citigroup CEO Michael Corbat, Velázquez asked Corbat to defend the fact that his $24.2 million yearly salary for 2018 was 486 times his own company’s median worker salary at $49,466. “I don’t think that’s fair for me to judge,” Corbat said...
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Quotes
1. I don't think that's fair for me to judge.
2. For a while, because of the increased capital requirements, banks tended to be less profitable and they're over that hump now.
3. If you're not happy with the pay ratio at your firm, there are two ways to correct it, because believe me it doesn't look good.
4. There is concern about minimum wage and gender pay equity.
Topics Mentioned
- MDC Partners
- stock options
- Bank
- California
- economy
- Congress
- Goldman Sachs
- Morgan Stanley
- Wells Fargo
- Bank of America
- Dodd-Frank
- JPMorgan
- Citigroup
- Jamie Dimon
- State Street
- Tim Sloan
- Brian Moynihan
- Volcker Rule
- Twitter
- crisis
- pay ratio