Human Capital & Careers

Bear Stearns CFO Earned Nearly $11 Million

Other senior executives at the investment bank fared even better.
Stephen TaubMarch 2, 2004

Bear, Stearns chief financial officer Samuel Molinaro Jr. took home more than $10.8 million last year.

As is the custom at the investment bank, the executive’s salary was just $200,000. However, Molinaro received a bonus of more than $5.3 million, about 25 percent higher than last year. He also received more than $4.5 million in restricted stock, an increase of more than 50 percent, and about $777,000 in “other income.”

Molinaro’s compensation, however, was minuscule compared with that of other Bear, Stearns executives.

Chairman and chief executive officer James Cayne received a total package of nearly $34 million, including an $11 million bonus, more than $10 million in restricted stock, and more than $12 million in other income. His salary was also just $200,000.

Alan Schwartz, president and co-chief operating officer, earned about $29.5 million; Warren Spector, president and co-chief operating officer, took home more than $38 million; and Alan “Ace” Greenberg, chairman of the executive committee, received nearly $19 million.

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