Hot commodity: The senior executives leaving the bank and earning much more than its CEO
In recent years, a number of senior bank executives have made their way to companies in the finance and real estate sectors, while enjoying much higher compensation. • 'If you reach the status of a…
Assessment
Senior bankers are leaving for private sector roles where pay far exceeds what their former CEOs earn. The trend spans finance and real estate companies willing to pay a premium for institutional knowledge. A source inside the system says a manager at a bank accumulates transferable expertise that commands higher compensation outside. The growing departure list raises a practical question for banks: how to retain top talent when executive pay caps make internal promotion financially unappealing.