Top brass in wealth management: Who's making the most?
April 11, 2017 3:10 PM
Top brass in wealth management: Who's making the most?
Wealth management executives command large enterprises at many financial institutions and are getting paid handsomely for it. Here are eight who are among the five highest-paid executive officers at their respective companies, according to an analysis of recent company proxy statements.
The execs shown here are with large banks and wirehouses as well as smaller regional banks. Scroll through to see the eight in ascending order by total compensation each earned in 2016.
The execs shown here are with large banks and wirehouses as well as smaller regional banks. Scroll through to see the eight in ascending order by total compensation each earned in 2016.
Jonathan Dargusch manages the bank's trust and investment departments as well as its securities brokerage and private banking functions. He joined the bank in March 2011 having been previously employed by JPMorgan Chase Bank in Columbus, Ohio.
Thomas Freeman served as Consumer Banking & Private Wealth Management Executive from 2015 to 2017. He oversaw SunTrust's consumer lending, branch banking, private wealth management, investment, consumer product and credit card businesses.
Freeman moved to a new role in April as efficiency and strategic partnerships executive spearheading large-scale efficiency initiatives and new fintech alliances as part of a company realignment.
Read more:SunTrust shuffles wealth management, consumer banker executive team
Freeman moved to a new role in April as efficiency and strategic partnerships executive spearheading large-scale efficiency initiatives and new fintech alliances as part of a company realignment.
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Sandra Pierce assumed leadership of the Private Client Group in August 2016 when Huntington completed its acquisition of FirstMerit. The Private Client Group includes Huntington Wealth and Investment Management, Huntington Private Bank, the Huntington Investment Co., national settlements and retirement services.
Read more:Huntington names FirstMerit exec to lead private client group
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As CEO of BNY Mellon Investment Management, Mitchell Harris oversees the company's asset management and wealth management businesses. He was appointed CEO of Investment Management in February 2016, having previously served as president.
As leader of Wells Fargo's Wealth and Investment Management, David Carroll oversees Wells Fargo Advisors, The Private Bank, Abbot Downing, Wells Fargo Institutional Retirement & Trust, and Wells Fargo Asset Management.
As head of Global Wealth & Investment Management, Terrence Laughlin oversees Merrill Lynch Wealth Management, U.S. Trust, and Global Wealth and Retirement Solutions, which collectively have $2.5 trillion in total client balances and employ more than 18,000 wealth advisers, according to the company's proxy statement.
Mary Callahan Erdoes has been CEO of Asset & Wealth Management since September 2009. She oversees JPMorgan Securities, JPMorgan Private Bank as well as the bank's mutual fund and institutional businesses.
