John Stumpf, Wells Fargo CEO, Pulls In $17.56 Million In 2010

NEW YORK — John Stumpf, the CEO of Wells Fargo & Co., received compensation valued at $17.56 million in 2010, a 6 percent decrease from 2009, according to an Associated Press analysis of regulatory filings.

The San Francisco-based bank credited Stumpf with helping it earn record income of $12.4 billion last year, increasing its market share and positioning the company for success following the financial crisis and regulatory reform.

The bank's revenue in 2010 slid to $85 billion from $88 billion the previous year, however.

For the 12 months ended Dec. 31, Stumpf was awarded a salary of $3.24 million, a performance-based stock bonus of $11 million, and a cash bonus of $3.3 million, according to documents filed with the Securities and Exchange Commission on Monday. That compares to a salary of $5.6 million, a stock award of $13.08 million, and zero cash bonus in 2009.

Stumpf's total compensation of $18.7 million in 2009 made him among the nation's highest-paid bank CEOs.

Stumpf's perks totaled $28,531 and included matching contributions to his retirement plan, home security system expenses, a car and a driver.

The Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.

Comments

[Allegra Nienart]

09:49 PM on 03/23/2011

sickening.....what about those who lost their jobs? how can he sleep at night??? they call it "streamlining" shutting down offices.....how about streamlining that fat salary...i'm sure he can spare a chunk of $2.8 million.....

[MiddleAgedNeophyte76]

04:11 PM on 03/23/2011

This is my very first post on HuffPo. I am by no means a sensitive individual and somewhat right-leaning,so feel free to debate, curse, or vehemently disagree with me.Absolutely nothing you say can offend me. Anyway, as I am not fond of the shady goings on in many of the banking institutions I do commend Wells Fargo for the fact that they did not need the bailout. The FEDs 'obliged' WF to take the money in which Wells paid it right back with expedience. I've actually met the guy and he seemed alright but $17mil plus, ya I don't know..

[Jane Korones]

11:06 AM on 03/23/2011

what a surprise

[nypapajoe]

10:28 AM on 03/23/2011

What about the families that were displaced after losing their jobs, homes and life savings? The children living in cars or the streets because they have no homes and the hunger that is being felt by those same kids! Yet these pigs that they are giving their CEOs Millions like they need the money and for what? Who in Washington is protesting this absurdity, who? We have become a third world country where there are two classes of people Rich and very Poor!

[anonymous67]

10:22 AM on 03/23/2011

Is the value to our society of this one man really the equivalent of over 500 school teachers? Greed reins supreme in government and Wall Street.

[Madtek]

09:29 AM on 03/23/2011

And what exactly did this man do to earn this much money??? How many peoples lives did he destroy to earn this much money??? How much taxes will he pay on this much money??? How many people will he hire from the ranks of the unemployed with this much money???

[Larry Lambert]

06:37 AM on 03/23/2011

Republicans should look into giving a specific tax break for him, and then maybe he can trickle down some of it.

[ACMSinc]

12:30 AM on 03/23/2011

That is John Stumpf award for 5 million Fraudclosures and conting

[Mackenzie K]

09:56 PM on 03/22/2011

Are there any tax breaks we can give him for his efforts, too?

[Mackenzie K]

09:55 PM on 03/22/2011

He totally earned it, I'm sure.

[frank day]

03:47 PM on 03/22/2011

Why are there no paid puppets here to defend Wells???

WF needs to get with the program like every other big corporation.

[dporterdvd]

03:13 PM on 03/22/2011

I wonder what the pay package is for the Wells Fargo bank tellers and security guards?

[dkinton49]

03:05 PM on 03/22/2011

Any person in their right mind would take the money. I believe it is too much, just as I believe that Albert Pujols being paid $20 million is too much. We the public can refuse to go see a cardinals game, and if enough people do that Albert will be traded of let go. The stockholders and board of directors need to take care of the excessive pay at Wells Fargo. We could also withdraw our funds from that bank.

My whole point is that it is not a matter that government should address!

[frank day]

03:43 PM on 03/22/2011

Sure. We just let more CEOs destroy their banks for short-term profits and then escape with big bonuses and golden parachutes.
Whats a few more banks to be bailed out. Right?

Whatever.

[missprissanna]

10:53 AM on 03/23/2011

It became a point that the government should address when they HAD to be bailed out with unlimited taxpayer/no strings attached. Nothing has changed. The to big too fails, are still to big too bail and will require more government bailouts if things don't change.

[jugglergal]

03:03 PM on 03/22/2011

Why would anyone need that much money. Its disgusting. He and his family should be ashamed of themselves when children are going hungry because their parents can't get a job that pays more than minimum wage. He should donate it to all the people loosing their homes because his bank made bad loans. Where is the balance in our system???

[BlueZoo]

02:48 PM on 03/22/2011

Obscene! Last weekend, my son went to cash his paycheck at the Wells Fargo branch his company writes checks on. They charged him $6 to cash that check because he didn't have an account with Wells Fargo! Gouge, gouge, gouge and pay your CEO unconscionable amounts of money!

[frank day]

03:45 PM on 03/22/2011

How can they charge him for honoring a draft on one of their accounts?
Something isn't right with that story.

[missprissanna]

11:06 AM on 03/23/2011

Wells Fargo will do anything and everything to charge fees and more fees....my story with WF....when I was finally paying my last payment on a 60 month loan on my car, the last payment...per the customer service rep, HAD to be paid in person at a branch office (the closest office to me is about 100 miles) or with a 9.95 money order mailed by certified, etc....a special trip was made the 100 miles to pay the last payment in person at a branch office on a Saturday morning, with their full assurance it would be posted immediately so that no other charges would be incurred. They held the payment until Wednesday causing a 1.12 interest charge and 35.00 late charge, they failed to send me a notice alerting me of this. Two months later when I called wanting to know where my title was, I was informed I owed 71.12 in late charges and interest. Long story short, after many calls and threats of turning this over to an attorney, I finally received the title to my car without paying the late charges...they are out to make every penny possible, no matter how dishonest their claims are....something just isn't right about Wells Fargo and the other to big to fails, when it's acceptable to rip off working people any way possible.

[Allegra Nienart]

09:51 PM on 03/23/2011

yup....wants MORE money from people like he doesn't have enough...meanwhile the tellers only get paid $24k a year if that............