A big part of the job of a CEO is figuring out how to make your business more successful, so it’s no surprise that the CEO of a major food-processing company is also the CEO and CEO of the world’s largest bank.
That’s according to a new report from Equilar, which examined the financial and financial performance of the leaders at the five biggest banks and found that all five are faring better than the average bank.
While that’s good news for those who rely on bank loans, the report also reveals that financial managers in many other sectors are underperforming.
According to Equilar’s data, for instance, the CEO for the world a giant U.S. pharmaceutical company was able to outperform the S&P 500 in the fourth quarter of 2018, while the CEO at a major U.K. bank earned just $10 million in profit.
“The CEO is the face of the bank and they have the power to make money,” said James T. Brown, Equilar analyst.
“It’s the CEO who is the biggest beneficiary.”
But even that doesn’t necessarily mean the CEO is a good leader.
The CEO at the largest U.N. agency was paid $7.2 million in the quarter, while his counterpart at a U.P.I. bank made $6.4 million, the company said.
“We are not saying that CEOs should be millionaires or that they should make money out of it,” said Matt W. Beall, senior vice president of research at Equilar.
“But if they can’t be a leader in a company, they are unlikely to be a great manager.”