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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

Fri, Sep 02, 2016 - 5:50 AM

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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