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US banks setting sky-high ceilings for director pay
The caps primarily serve to fend off potential shareholder lawsuits rather than control the pace of pay increases
Goldman Sachs pays its board the most among banks and ranks sixth among S&P 500 firms, according to executive recruiting firm Spencer Stuart.
PHOTO: REUTERS
New York
OVER the past two years, a growing number of US banks have capped their directors' earnings, but the ceilings are so high that they primarily serve to fend off potential shareholder litigation rather than control the pace of pay increases.
Most of the caps are typically...
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