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Wells Fargo CEO's pay rose 8 percent to $19.3 mln - filing
March 14, 2013 / 9:51 PM / 5 years ago

Wells Fargo CEO's pay rose 8 percent to $19.3 mln - filing

March 14 (Reuters) - 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.

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