Wall Street Banks Are Paying Their CEOs Like It’s 2006 Again

After years of restraint following the 2008 global financial crisis, Wall Street is handing CEOs a record payout.

Chief executive officers at the top US banks all received annual compensation of at least $40 million, with their total pay surpassing records set in 2006 and 2021. Bank of America Corp.’s Brian Moynihan was the latest CEO to have his pay disclosed, with his compensation rising 17% last year to $41 million. Citigroup Inc. said this week that it boosted the pay of CEO Jane Fraser 22% to $42 million for 2025, a sign of confidence from the board about ...