It’s Raining Pay Hikes at Wells Fargo (WC)

Wells Fargo (NYSE: WFC) has almost doubled in size after its successful acquisition of troubled bank Wachovia (NYSE: WB), so has the compensation of its top executives. Wells Fargo & Company rewarded its top five executives with compensation more than $11 million in 2009, while CEO John Stumpf went home with a package of $21.3 million reports The Wall Street Journal. Mr. Stumpf received $5.6 million in fixed salary and $13.1 million in stock options (ESOP’S), also his pension saw an increment of $2.6 million. His remuneration in 2008 stood at $8.8 million.CFO Howard Atkins remuneration more than doubled in 2009 to $11.6 million from $4.9 million a year ago. Wells Fargo bank has repaid all the $25 billion it received in 2008 from the U.S. Treasury's Troubled Asset Relief Program, or TARP thus liberating itself from few Govt. restrictions.