Sieg, 56, arranged the so-called golden handshake before joining in late September from Bank of America, with
The award, amounting to the highest pro rata compensation for the bank's top brass last year, underscores
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The year's final months showed Sieg's work ahead: Net interest income in that business line fell 10% to just over $1 billion in the fourth quarter from a year earlier. Since arriving, he has brought in his former Bank of America colleague Don Plaus to run
The board increased Chief Executive Officer Jane Fraser's compensation package by 6% to $26 million and slightly cut the pay for Chief Financial Officer Mark Mason to $13.3 million.
Markets chief Andy Morton got $18.5 million. Paco Ybarra, who became a senior adviser after stepping down as head of the now-disbanded institutional clients group, got $20 million, less than the prior year.