Putnam Investments chief executive Charles "Ed" Haldeman, Jr. earned roughly $13.7 million in total compensation in 2004, his first full year running the mutual fund company, the Boston Globe reports.
The bulk of his salary, according to a securities filing by Putnam parent Marsh & McLennan Cos., came from a $6.5 million bonus and $6.1 million worth of restricted stock.
The total is slightly more than what Haldeman made in 2003, when he was chief executive for just two months after his predecessor Lawrence J. Lasser was ousted amid the market-timing scandal.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.