Bailed-Out Banks Ramp Up Pay Packages To Top Talent

Posted: Updated:

Some big banks that have received government bailouts in the U.S. and Britain are offering handsome pay packages to lure stars and reverse last year's steep losses.

Bank of America Corp. recently hired a top bond salesman with a guaranteed two-year deal valued at about $6 million for the first year, people familiar with the matter say. Citigroup Inc. offered nearly $2 million in an attempt to recruit a top brokerage executive.

Read the whole story at Wall Street Journal

Around the Web

Senate passes bank bailout package - Economy in Turmoil-

Obama limits bailed-out bank CEO pay to $500000 - MarketWatch

Bailout Bank Pay Caps Leave Wiggle Room - CBS News

Markets rocket on US bailout package for struggling banks ...