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John G Stumpf

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BUSINESS
March 14, 2013 | By E. Scott Reckard, Los Angeles Times
John G. Stumpf, chief executive of Wells Fargo & Co., made more than any banker in America last year - $22.87 million. Stumpf's pay package, disclosed Thursday, was up 15% from 2011, an increase Wells said reflected the San Francisco-based bank's strong performance. Wells earned $18.9 billion, up 19% from 2011, during a year in which big banks collectively turned in near-record profits. The runner-up at $21 million - a 75% increase - was Lloyd C. Blankfein, CEO of New York's Goldman Sachs Group, whose pay has been notably lofty over the years.
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BUSINESS
March 14, 2013 | By E. Scott Reckard
And the winner of this year's banker bonanza award is ... John G. Stumpf, chief executive of San Francisco's Wells Fargo & Co., with a 2012 compensation package totaling $22.87 million. Stumpf's pay package, disclosed Thursday afternoon, was 15% higher than in 2011. Wells said the increase was merited because of the bank's strong showing in 2012. It earned $18.9 billion, up 19% from 2011, during a year in which big banks collectively turned in near-record profits. The runner-up was $21 million, a 75% increase, for Lloyd C. Blankfein, CEO of New York's Goldman Sachs Group, whose pay has been notably lofty over the years.
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BUSINESS
March 14, 2013 | By E. Scott Reckard
And the winner of this year's banker bonanza award is ... John G. Stumpf, chief executive of San Francisco's Wells Fargo & Co., with a 2012 compensation package totaling $22.87 million. Stumpf's pay package, disclosed Thursday afternoon, was 15% higher than in 2011. Wells said the increase was merited because of the bank's strong showing in 2012. It earned $18.9 billion, up 19% from 2011, during a year in which big banks collectively turned in near-record profits. The runner-up was $21 million, a 75% increase, for Lloyd C. Blankfein, CEO of New York's Goldman Sachs Group, whose pay has been notably lofty over the years.
BUSINESS
March 14, 2013 | By E. Scott Reckard, Los Angeles Times
John G. Stumpf, chief executive of Wells Fargo & Co., made more than any banker in America last year - $22.87 million. Stumpf's pay package, disclosed Thursday, was up 15% from 2011, an increase Wells said reflected the San Francisco-based bank's strong performance. Wells earned $18.9 billion, up 19% from 2011, during a year in which big banks collectively turned in near-record profits. The runner-up at $21 million - a 75% increase - was Lloyd C. Blankfein, CEO of New York's Goldman Sachs Group, whose pay has been notably lofty over the years.
BUSINESS
June 28, 2007 | E. Scott Reckard, Times Staff Writer
Wells Fargo & Co.'s new chief executive, who spent 25 years grinding out growth at the bank, now must nurse its huge mortgage business through the worst housing downturn since 1991. John G. Stumpf, Wells' president since August 2005, added the CEO title Wednesday, succeeding Richard Kovacevich, 63, who is expected to remain chairman until he turns 65 in late 2008. The two executives helped build Minneapolis' Norwest Corp.
BUSINESS
July 3, 2007 | From Times Wire Services
Wells Fargo & Co. gave John G. Stumpf options to buy $14 million worth of the bank's shares after elevating him to chief executive last week. Stumpf, 53, was granted the option to buy 400,000 of the company's common stock at an exercise price of $35.06, the closing share price June 26, San Francisco-based Wells Fargo said in a regulatory filing. The company also boosted his annual salary to $800,000 from $700,000.
BUSINESS
March 4, 2010 | By E. Scott Reckard
Freed from government compensation restraints after repaying bank bailout funds, Wells Fargo & Co. more than doubled the pay of its top executives, with a $21.3-million package going to Chairman and Chief Executive John G. Stumpf. The bank disclosed the compensation for 2009 in a Securities and Exchange Commission filing Wednesday. Stumpf's pay shot up 142% from $8.8 million in 2008. Repaying $25 billion to the U.S. Treasury's Troubled Asset Relief Program on Dec. 23 relieved Wells Fargo of restrictions on institutions receiving government funds.
BUSINESS
March 15, 2013 | By E. Scott Reckard
The $22.9-million pay package that Wells Fargo & Co. awarded Chief Executive John G. Stumpf last year is designed so that more than half of it depends on the bank's performance over three years -- a stride in the right direction, says an often-critical compensation analyst. The compensation, the highest for any CEO at a major U.S. commercial bank, was disclosed Thursday in Wells Fargo's proxy statement to shareholders. It includes a $12.5-million component: the value of 398,470 Wells Fargo shares in February 2012, when they were granted to Stumpf.
BUSINESS
January 11, 2013 | By E. Scott Reckard, Los Angeles Times
Saying housing markets are much improved, Wells Fargo & Co. reported solid increases in overall lending and 25% higher profit for the fourth quarter, although some investors worried as the nation's largest home lender wrote fewer mortgages than in the previous quarter. The San Francisco bank said Friday that revenue grew more than 6% during 2012, with improvements in segments including commercial loans, credit cards and wealth management. But mortgage originations declined 10% compared with the third quarter, raising concerns that a refinance boom that has fattened banks' results may be waning.
BUSINESS
December 6, 2007 | Maura Reynolds and Jonathan Peterson, Times Staff Writers
Seeking to gird the nation's economy against a potential tidal wave of foreclosures, the Bush administration will release a plan today that is expected to block many mortgages from adjusting to higher rates for as long as five years. Administration officials acknowledged privately Wednesday that the plan was likely to face objections from low-income borrowers who won't be helped, and from investors who backed now-troubled sub-prime home loans that are at the heart of the mortgage crisis.
BUSINESS
June 28, 2007 | E. Scott Reckard, Times Staff Writer
Wells Fargo & Co.'s new chief executive, who spent 25 years grinding out growth at the bank, now must nurse its huge mortgage business through the worst housing downturn since 1991. John G. Stumpf, Wells' president since August 2005, added the CEO title Wednesday, succeeding Richard Kovacevich, 63, who is expected to remain chairman until he turns 65 in late 2008. The two executives helped build Minneapolis' Norwest Corp.
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