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Buffett Managers Score Big Payday

Warren Buffett told investors in March he "hit the jackpot" hiring two former hedge-fund managers to help run Berkshire Hathaway Inc.'s investing business.Todd Combs and Ted Weschler likely feel the same way. Each stands to make at least $27 million -- and probably much more -- in bonuses for 2012, according to an analysis by The Wall Street Journal of company data and Mr. Buffett's public comments.The payouts reflect the double-digit percentage gains in both managers' investment portfolios above the Standard & Poor's 500-stock index. The sums are a fraction of what some hedge-fund titans make, but they catapult Messrs. Combs and Weschler into the ranks of highly paid U.S. public-company employees.The figures illustrate Berkshire's willingness to pay for performance. Mr. Buffett has been an outspoken critic of compensation that isn't based on beating specific, realistic targets. Mr. Buffett, whose 21% economic stake in Berkshire is valued at more than $50 billion at recent market price...

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  1. Herbalife short-seller sues banks, Icahn over alleged fraud

    A short seller in Herbalife Ltd's stock has sued officials at three major U.S. banks as well as activist investor Carl Icahn, saying they are helping perpetuate a fr...

  2. Wells Fargo Awards CEO Stumpf $1 Million in Restricted Stock for 2012

    Wells Fargo & Co. (WFC) disclosed Tuesday that it awarded Chief Executive John Stumpf 27,398 in restricted share rights as part of his 2012 compensation.The bonus wa...

  3. Wells Fargo Raises Dividend by 14%

    Wells Fargo & Co. (WFC) raised its quarterly dividend 14%, as the bank looks to increase shareholder return.The three-cent increase brings Wells Fargo's quarterly pa...

  4. Wells Fargo Lifts Dividend 14%

    Wells Fargo's (NYSE:WFC) board of directors approved plans on Tuesday to boost the banking giant's quarterly dividend by 14%.Shares of San Francisco-based Wells Farg...

  5. J.P. Morgan CEO's Pay Cut 50% After 'Whale' Loss; Bank Reports Record Profits

    J.P. Morgan Chase & Co. (JPM) hit Chief Executive James Dimon with a 50% pay cut for 2012 because of the "London whale" trading debacle that cost the nation's larges...

  6. Wells Fargo 4th-Quarter Net Rises, but Mortgage Pipeline Falls

    Wells Fargo & Co.'s (WFC) fourth-quarter profit rose 24% and revenue exceeded expectations, but the bank continues to suffer from low interest rates while the mortga...

  7. Wells Fargo Earnings Preview: Marginal Revenue Growth Expected

    Wells Fargo & Co. (NYSE:WFC), the first of the big U.S. banks to step into the earnings spotlight this go around, is scheduled to report its fourth-quarter and full-...

  8. Wells Fargo 4th-Quarter Net Interest Margin Under Scrutiny

    Wells Fargo & Co. (WFC) will open the fourth-quarter earnings season for U.S. banks Friday and investors will keenly focus on the profit margin in the bank's lending...

  9. Consumer, Business Borrowers to Take Hit Regardless of 'Cliff' Deal

    Consumers and business will take a financial hit regardless of whether Congress finalizes a deal addressing the so-called "fiscal cliff," as taxes appear certain to ...

  10. America's Most Valuable CEOs

    There is a nearly endless number of criteria that measure how well CEOs perform, whether they are paid fairly, and what metrics should be used for determining chief ...

  11. Wells Fargo expands commercial banking in Canada

    Wells Fargo & Co on Tuesday said it was expanding lending, treasury management and other services for corporate customers in Canada as the No. 4 U.S. bank by assets ...

  12. Wells expands in investment banking as others retreat

    CHARLOTTE, North Carolina (Reuters) - As banks across Wall Street retreat from the trading business, Wells Fargo & Co is expanding.The growth worries some investors ...

  1. Wells Fargo CEO Stumpf Disagrees With Shrinking Big Banks

    Wells Fargo & Co. (WFC) Chairman and Chief Executive John Stumpf shot down the hotly debated notion of too-big-to-fail and noted big banks like Wells Fargo are posit...

  2. Wells Fargo Unveils 1Q Beat But Sales Fall Short

    Led by ramped up cost-cutting initiatives and improvement in its consumer banking and credit businesses, Wells Fargo (NYSE:WFC) revealed a stronger-than-expected 23%...

  3. Wells Fargo Profit Up 22% From Year Ago

    Wells Fargo & Co. said on Friday its first-quarter profit increased 22% to $5.2 billion, or 92 cents per share, from $4.25 billion in profit or 75 cents in the same ...

  4. Compensation for Morgan Stanley CEO Falls 18%

    Morgan Stanley (MS) Chairman and Chief Executive James Gorman took home $10.7 million in annual compensation in 2012, down 18% from the prior year, in a calculation ...

  5. Wells Fargo CEO urges long-term debt solution in Washington

    To boost economic growth, policymakers must find a long-term solution for the nation's rising debt, Wells Fargo & Co Chief Executive John Stumpf wrote in his annual ...

  6. Wells Fargo CEO's 2012 Pay Valued at $22.9 Million

    Wells Fargo & Co. (WFC) awarded Chief Executive John Stumpf $22.9 million in salary and bonus for 2012, making him the highest-paid chief of a major U.S. commercial ...

  7. Wells Fargo CEO's pay rose 8 percent to $19.3 million - filing

    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....

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