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SunTrust Chief Executive Wells's Pay Rises 34% as Pension Valuation Climbs

By Implode-Explode Heavy Industries

``SunTrust Banks Inc., the Georgia lender that has yet to repay $4.85 billion in taxpayer bailout funds, reported a 34 percent increase in Chief Executive Officer James Wells?s 2010 compensation... SunTrust, led by Wells since January of 2007, returned to quarterly profits last year for the first time since 2008 as it set aside less money to cover bad loans. The company may sell stock to repay funds received under the $700 billion Troubled Asset Relief Program, Wells, 64, told analysts last month. ''

Full post as published by Mortgage Lender Implode-o-Meter on February 24, 2011 (boomark / email).