Fixing format issues - There is no way this is based on performance
(Data from proxy statement)
Executive / Total Performance Achievement / Increase in Total Compensation
Scharf: 108.1%; 15.4%
Santomassimo: 113.5%; 6.8%
Weiss: 104.1%; 53.6%
Mack: 93.6%; 47.2%
Powell: 98.9%; 12.3%
f*ck anyone getting more than 2% increase and having the audacity to show their face as a leader...sc-m
Wow that’s way more than the 0% raise I got! 15% bonus though
They must’ve gotten a 4 or 5 on their review
Santomassimo being asked which banks he likes on CNBC and not mentioning his own employer was telling.
As long as they and their a** li**ing lieutenants can keep the cost and expense in control by coming up with any reasons to lay off people and shift jobs offshore, they can meet their targets effortlessly. They’ve been doing that quite religiously, so not surprised they’ve been able meet their targets at the cost of long term viability of the bank and hard working employees. The entire investment community being fixated on quarterly EPS doesn’t help either as they fail to look through what’s actually happening inside the bank. Frankly, nobody cares. It’s just become a mediocre dinosaur too big to short.