Intelligencer

Big Swinging Ax

Merrill Lynch’s Stan O’Neal became the first Wall Street CEO to lose his job over the credit crisis. Which megabanker might end up on the chopping block next? A scorecard.

By Duff McDonald
Published Nov 5, 2007

(Photo: Chris Ford/Patrick McMullan)

LLOYD BLANKFEIN, Goldman Sachs

2006 Pay: $53.5 million
3Q Profit vs. '06: +80.3%
Credit Writedown: $1.5 billion
Stock Vs. Year Ago: +30%
What’s in the Headlines: While everyone else suffered huge third-quarter losses, gold-plated Goldman managed a solid quarter.
What’s Coming: Blankfein keeps Goldman’s profit engine running and its competitors on their heels. He’s not going anywhere soon.

(Photo: Ho/Bear Sterns Cos. Inc./AP Photo)

JAMES CAYNE, Bear Stearns

2006 Pay: $40 million
3Q Profit vs. '06: -$73.8%
Credit Writedown: $700 million
Stock Vs. Year Ago: -27%
What’s in the Headlines: Two of the firm’s hedge funds collapsed over the summer. And while Bear burned, Cayne played golf or bridge.
What’s Coming: WSJ piece revealing the 73-year-old’s pot-smoking could put him up in smoke.

(Photo: Jimi Celeste/Patrick McMullan)

JAMIE DIMON, JPMorgan Chase

2006 Pay: $44.4 million
3Q Profit vs. '06: -$76.7%
Credit Writedown: $1.3 billion
Stock Vs. Year Ago: -6%
What’s in the Headlines: Managed a third-quarter profit, surprising the Street.
What’s Coming: He’s always been a golden boy among big-bank CEOs, and so far he’s staying one.

(Photo: Kevin Wolf/AP Photo)

RICHARD FULD, Lehman Brothers

2006 Pay: $40.5 million
3Q Profit vs. '06: -11.9%
Credit Writedown: $700 million
Stock Vs. Year Ago: -19%
What’s in the Headlines: Lehman beat analysts’ third-quarter expectations. Reduced expectations, true, but they were still beaten.
What’s Coming: He built the firm into an industry leader. But Lehman and Fuld aren’t out of the credit-crisis woods yet.

(Photo: Victoria Arocho/AP Photo)

KENNETH LEWIS, Bank of America

2006 Pay: $27.9 million
3Q Profit vs. '06: -32.3%
Credit Writedown: $247 million
Stock Vs. Year Ago: -15%
What’s in the Headlines: I-banking income was down 93 percent in the third quarter, and big plans for the division were scaled back.
What’s Coming: B of A is now worth more than either Citigroup or JPMorgan. But big i-banking losses could be a big problem.

(Photo: Scott Rudd/Patrick McMullan)

JOHN MACK, Morgan Stanley

2006 Pay: $40.2 million
3Q Profit vs. '06: -10.1%
Credit Writedown: $900 million
Stock Vs. Year Ago: -15%
What’s in the Headlines: Third-quarter profits came in 11 percent below analysts’ estimates. That’s not good.
What’s Coming: Mack is a consummate investment banker— always slick and sometimes vicious. He’ll be fine.

(Photo: Zack Seckler/Corbis)

CHUCK PRINCE, Citigroup

2006 Pay: $26 million
3Q Profit vs. '06: -83.45
Credit Writedown: $2.9 billion
Stock Vs. Year Ago: -23%
What’s in the Headlines: The third quarter was bad. And the bank has lots of credit exposure—so the fourth quarter could be even worse.
What’s Coming: Prince promises a better fourth quarter. If he’s right, he just might hang on. If he’s wrong, it’s good-bye, Charlie.

Have good intel? Send tips to intel@nymag.com.