NEW YORK—John Thain, the chief executive of Merrill Lynch, topped the list of the most highly paid chief executives in the financial sector.
AP examined 2007 CEO pay data from the 410 companies in the S&P 500 that filed compensation disclosures with federal regulators in the first six months of this year. The following are the top earners at companies in the financial sector.
1. John Thain of Merrill Lynch & Co.: $83 million
2. Lloyd Blankfein of Goldman Sachs Group: $54 million
3. Kenneth Chenault of American Express Co.: $51.7 million
The AP's formula includes salary, perks, bonuses, above-market interest on pay set aside for later, and company estimates for the value of stock options and stock awards on the day they were granted.
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