While most bank CEOs made money walkings in 2015, the raises were larger for some than others.
KeyCorp Chief Executive Chris Gorman got a 64% increase in overall direct payment in 2021, Washington Federal CEO Brent Beardall got a 60% raise, and Comerica CEO Curtis Farmer was granted a 48% pay bump.
Those industry-leading raises compared to a typical boost of 21.5% for the CEOs of more than 50 big and midsize banks, according to an analysis by the consulting company Compensation Advisory Partners.
Some of the CEOs who got the biggest pay boosts in 2021 had actually gotten pay cuts the previous year, when the COVID-19 pandemic hurt efficiency metrics that banks utilize to assist figure out payment levels.
For example, Cullen/Frost Bankers CEO Phillip Green got a 42% boost in overall direct payment in between 2020 and 2021 after his pay was cut by 18% a year previously. And Pinnacle Financial Partners CEO Terry Turner got a 32% pay raise in 2015 after getting a 13% cut in 2020.
What follows is a countdown of the 10 bank CEOs who got the greatest raises on a portion basis in 2015, according to the analysis by Compensation Advisory Partners. Information about aspects that affected particular banks’ pay choices originates from their latest proxy declarations.