white men with money

Merrill’s Merry Men Raked In $209 Million in 2008

No wonder former Merrill Lynch CEO John Thain thought he deserved a $10 million bonus last year, despite the fact that the firm lost $27.6 billion. Everyone else was getting one! The Wall Street Journal got restless waiting for Attorney General Andrew Cuomo’s subpoena for details about who at the firm received bonuses last year to come through, and dug through the records themselves to come up with a handful of names.

Thomas Montag: $39.4 million pay package and Merrill stock awards valued at approximately $50 million.
Andrea Orcel: $33.8 million in 2008. (Awesomely, in 2007 he received a $12 million bonus for advising Royal Bank of Scotland, which worked out well for them.)
Fares Noujaim: $15 million.
Peter Kraus: $29.4 million (For three months of work, remember!)
David Gu: $18.7 million.
David Goodman: $16.5 million.
David Sobotka: About $13 million.

The Journal’s total comes to $209 million in cash and stock, which is all the more amazing for the fact that it’s up from the $201 million the company shelled out to their top ten execs in 2007.

Merrill’s $10 Million Men [WSJ]

Merrill’s Merry Men Raked In $209 Million in 2008