How important is the wealth management business to banks?  For some, it's so important they're willing to pay top dollar not only for advisors but also their wealth execs.

Of the 40 odd banks that own their broker-dealer, eight list their wealth management executives among their five highest paid officers, according to an analysis of their latest proxy statements.

These eight executives are with large banks as well as smaller regional banks. Here are all eight in ascending order by total compensation each earned in 2014. 

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Jonathan D. Dargusch, WesBanco Bank Inc.

Title: Executive Vice President, Wealth Management

Base Salary: $230,270

Bonus: $0

Stock/Option Awards and Other Compensation: $194,382

Total: $424,652

 

Galan G. Daukas, People's United Bank   

Title: Senior Executive Vice President, Wealth Management

Base Salary: $380,000

Bonus: $0

Stock/Option Awards and Other Compensation: $1.01 million

Total: $1.31 million

 

Clifton J. Saik, Hancock Bank

Title: Chief Wealth Management Officer

Base Salary: $386,260

Bonus: NA

Stock/Option Awards and Other Compensation: $1.01 million

Total: $1.4 million

 

Curtis C. Farmer, Comerica Bank

Title: Vice Chairman, Wealth Management and Retail Bank

Base Salary: $625,692

Bonus: $0

Stock/Option Awards and Other Compensation: $1.44 million

Total: $2.1 million

 

James E. Dunlap, Huntington Bank

Title: Senior Executive Vice President, Regional Banking and Private Client Group Director

Base Salary: $518,333

Bonus: $0

Stock/Option Awards and Other Compensation: $2.28 million

Total: $2.8 million

 

Steven L. Fradkin, Northern Trust

Title: President, Wealth Management

Base Salary: $600,000

Bonus: NA

Stock/Option Awards and Other Compensation: $4.05 million

Total: $4.65 million

 

David M. Carroll, Wells Fargo

Title: Senior Executive Vice President, Wealth, Brokerage and Retirement 

Base Salary: $1.7 million

Bonus: $0

Stock/Option Awards and Other Compensation: $8 million

Total: $9.7 million

 

David C. Darnell, Bank of America

Title: Vice Chairman, Global Wealth and Investment Management

Base Salary: $1 million

Bonus: $3.1 million

Stock/Option Awards and Other Compensation: $5.88 million

Total: $9.98 million

 

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