Citi's Top Risk Boss Paid $8 Million Retention Bonus

Richly deserved.  He’s clearly doing a helluva job.

NYT: Three senior [Citi execs]— Stephen R. Volk, Lewis B. Kaden and Michael S. Klein — were awarded $38 million in early 2008, with at least a portion of the payments linked to performance.

Mr. Kaden, who supervised Citigroup’s chief risk officer as the company pushed into risky mortgage investments, was awarded a retention bonus then worth more than $8 million in cash and stock.

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