Tom Bieging Quoted in The Bank Safety & Soundness Advisor
Tom Bieging was interviewed for The Bank Safety & Soundness Advisor on increasing Fed scrutiny on the compensation of senior managers and executives in the banking industry.
“We are seeing increasing scrutiny by the regulators on senior management compensation,” says Thomas Bieging, a partner with Bieging, Shapiro & Barber, LLP, Denver, Colo. “The issue is not just incentive compensation, which has been addressed in Dodd-Frank, but rather base or salary levels. The attitude seems to be that if the bank declined under the existing senior management’s watch, then their core compensation should be adjusted downward or increases severely limited.”
“Examiners will continue to pressure bank boards to take action – to reduce or limit core compensation – even when presented with a compensation study from a third party showing compensation levels to be within the median range for the bank’s peer group,” he adds.
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