alliancebernstein

It's Good to Be CEO

cityfile · 06/22/09 07:48AM

According to Crain's, New York's 100 top-paid executives took home $1.2 billion in compensation last year. And a handful of them, it turns out, are execs who happen to work at banks that received bailouts from Washington: "Number four on the list is Goldman's CEO Lloyd Blankfein, with $42.9 million. Following him is Citigroup's CEO Vikram Pandit, raking in $38.2 million. Jamie Dimon, head of JPMorgan Chase, comes next in line with $35.7 million. Goldman and JPMorgan, which received $10 billion and $25 billion, respectively, in government aid, have recently moved to repay the funds. Citigroup is still saddled with the $45 billion in aid it's accepted." Topping the list, in case you're wondering, is Peter Kraus of Alliance Bernstein, who was paid $52 million just to take the job. But American taxpayers also had a hand in making 2008 a very good year for Kraus: In addition to his take from Alliance, he earned $25 million for the three months he put in at Merrill Lynch in late 2008. [NYP]

Raoul Felder Finds a Way to Stay Relevant

cityfile · 10/21/08 01:30PM

Press-obsessed divorce attorney Raoul Felder has found a clever way to stay in the spotlight in these turbulent economic times: He's suing the money management firm AllianceBernstein for $5 million for losing $200,000 he invested in a hedge fund based on AllianceBernstein's advice. It's been a few years since the 74-year-old attorney has been the center of the spotlight. (His most notable clients in recent years: Rudy Giuliani in his divorce from Donna Hanover, and David Gest in his split from Liza Minnelli. Until, that is, Gest fired him for overdoing it with the press.) But Felder seems to have figured out a great way to take center-stage amid the financial crisis: Sue the firm that managed your portfolio for 25 times what you lost, and then give a dozen interviews about how the system is corrupt and you're just standing up for the little man.