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US bank Wells Fargo paid its chief executive officer John Stumpf $21.3 million in 2009, a sharp increase over his pay package of $8.8m in 2008, putting him at the top of the pay scale for US bankers in 2009. The bank repaid the federal government $25m, to the Treasury’s Troubled Asset Relief Program (Tarp) in December 2009, freeing it from the programme’s restrictions on pay. It more than doubled the pay of its senior executives for the year, while technically lowering their salaries. (Ed. note: AP calculates, based on its analysis of executive pay as listed with federal regulators, that he earned $18.7m).

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