Yesterday it was revealed that, for his efforts in 2010, Deutsche Bank's head of corporate and investment banking, Anshu Jain, made $16.7 million -- which was about $4 million more than Deutsche Bank CEO Josef Ackermann made last year.
A similar situation (in which a bank's IB chief made more than his CEO) was revealed a few weeks ago when BofA released its salary figures for 2010, noting that investment banking chief Thomas Montag earned a $15.2 million bonus while chief executive Brian Moynihan made about $9 million.
The reason these two IB heads made more than their bosses is simple: their units made a majority of their firms' profits (in 2010, Jain's unit accounted for $29 billion in net revenue, 73 percent of DB's total).
As for where these payouts stand versus other top executive suite earners last year, here's a sample of other big bankers' compensation in 2010:
Jamie Dimon, JPMorgan Chase CEO: $17.4 million
Bob Diamond, Barclays CEO: $16.5 million
Lloyd Blankfein, Goldman Sachs CEO: $12.6 million
Carsten Kengeter, UBS Investment Bank chief: $11 million (approx.)
(Related: SEC Votes to Restrict Wall Street Bonuses)
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