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Article: SOMETHING IN THE CITY ; 1) BUSINESS2) GRASSO'S BRASS
- Article from:
- The Evening Standard (London, England)
- Article date:
- June 26, 2008
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Copyright informationCopyright 2008 Evening Standard - London. Provided by ProQuest LLC. (Hide copyright information)
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Dick Grasso. He looks like Alf Garnett but I believe he's
slightly richer.
Yes, indeed. Grasso is the former New York Stock Exchange
chairman who managed to get himself a $ 190 million pay- off when he
was ousted in . He'd been at the organisation for years, rising from
clerk to chairman, but was eventually forced out.
Why? He was awarded a deferred pay deal worth up to $ 140 e
million. Problem was, the NYSE compensation committee that approved
it was mostly from the very Wall Street companies Grasso was
supposed to be regulating. A bit too cosy, said some powerful
financial institution heads. The NYSE board met and voted for him to
leave with a $ 190 million ...
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