March 14 Wells Fargo & Co Chief Executive John Stumpf's pay increased 8 percent in 2012, making him one of the industry's best-paid leaders, according to a filing with the U.S. Securities and Exchange Commission on Thursday.
Stumpf received $19.3 million in compensation, including a $4 million bonus and $12.5 million in performance-based stock grants, after the No. 4 U.S. bank by assets hauled in record profits. For 2011, Stumpf received total compensation of $17.9 million.
While many of its rivals suffered missteps, San Francisco-based Wells emerged from the 2007-2009 financial crisis as the nation's biggest mortgage lender and a coast-to-coast retail bank after buying Wachovia Corp. Berkshire Hathaway Inc's Warren Buffett is the bank's biggest investor, owning 8.8 percent of its shares, according to the filing.