Shareholders who dish out millions to an elite CEO should of course expect a lot in return. The CEO who provided the best bang for the buck, according to analysis by Bloomberg Markets, is JPMorgan's Jamie Dimon.
Bloomberg Markets' 'Finance 50' measured CEO's 2008 and 2009 salaries as a percentage of their firm's total assets in addition to stock returns over the same period in ranking the "Best Value Finance CEOs" and the "Least Value Finance CEOs."
What exactly accounted for Dimon's No. 1 ranking? Chalk it up to his 96 percent pay cut in 2008 and the fact that JPMorgan never had a losing quarter during the financial crisis. (Dimon also has an advantage in the ranking merely by virtue of JPMorgan's massive pool of assets under management.)
Wells Fargo's John Strumpf and Capital One Financial's Richard Fairbank are, according to the rankings, the second and third highest-valued finance CEOs. Goldman Sachs CEO Lloyd Blankfein, who cut his $40.95M compensation in 2008 to $862,657 in 2009, rounds out the top five. And Berkshire Hathaway Inc.'s Warren Buffet, who made $180,000 in 2008-2009, places sixth on the list, which appears in the July issue of Bloomberg Markets.
But, as Bess Levin at Dealbreaker noted, not all finance CEOs have followed suit. Despite KeyCorp's stock dropping 76 percent from 2008 to 2009 and the Cleveland-based lender still owing $2.5 billion in TARP funds, CEO Henry Meyer III took a 21 percent increase in his 2009 compensation, to $8.15M. Unsurprisingly, Meyer ranked No. 1 on Bloomberg's "Least Value Finance CEOs."
Check out the full article at Bloomberg Markets here.