Business Services Industry
BROKER CEOS' PAY FOLLOWS DIRECTION OF PROFITS, REVENUES.
Business Insurance, July, 1999 by MILLIGAN, AMANDA
In a tug of war for the position of highest-paid broker chief executive officer, Patrick G. Ryan of Aon Corp. has once again claimed the position from A.J.C. Smith of Marsh & McLennan Cos. Inc. Mr. Ryan, Aon's chairman, president and CEO, also was the highest-paid broker CEO in 1996 (BI, July 21, 1997), based on information published in the company's proxy statements.
From 1991 through 1995 and in 1997, Mr. Smith, who serves as chairman and CEO of M&M, held the top spot. In 1998, Mr. Ryan received a salary of $1,088,461 and a bonus of $1,890,000. This total cash compensation reflects a 68.9% jump from the prior year, when his salary was $1,032,692 and his bonus was $731,250. Aon's proxy statement says the compensation committee voted to give Mr. Ryan the...
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