Bloomberg News

ECB Report Shows Draghi Pay More Than Twice as High as Fed Chief

February 20, 2014

European Central Bank President Mario Draghi was paid 378,240 euros ($518,264) last year, more than twice as much as the $201,700 Federal Reserve Chair Janet Yellen is set to receive.

Draghi’s salary increased 1.1 percent from a year earlier, the Frankfurt-based ECB said in its 2013 annual accounts today. Inflation averaged 1.4 percent last year. Vice President Vitor Constancio made 324,216 euros. Executive board members Joerg Asmussen, Benoit Coeure and Peter Praet earned 270,168 euros, while Yves Mersch, the latest addition to the board, received 281,833 euros.

While Draghi’s salary tops Haruhiko Kuroda’s 24 million yen ($235,400) for the year ending March 31, it is dwarfed by the 874,000 pounds ($1.46 million) Bank of England Governor Mark Carney is taking home in salary, housing and cash allowances.

By contrast, Lloyd C. Blankfein, the Goldman Sachs Group Inc. Chief Executive Officer who was the highest paid head of a U.S. bank in 2012, receives a $2 million salary and saw his bonus climb to $21 million for his work last year from $19 million previously. Anshu Jain and Juergen Fitschen, who became co-CEOs of Deutsche Bank AG in June 2012, will be paid a maximum of 9.85 million euros each for 2013, including base salaries of 2.3 million euros and bonuses capped at 7.55 million euros.

To contact the reporter on this story: Jana Randow in Frankfurt at jrandow@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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