Tops Blankfein, Dimon and JEF Chairman Friedman.

[ by Melanie Gretchen ]

Jefferies has completed its announcements.  Yes, it was sold to Leucadia National Corp.   Yes. CEO Richard Handler, 51, was handsomely awarded for fiscal 2012 - he will receive an increase by 36% in annual pay for the year ending 11/30/12.  That brings Mr. Handler's total remuneration to $19 million for fiscal 2012 - including:  

• $5 million cash bonus;
• $13 million in stock; and,
• $1 million salary.  

He also was granted $39 million in restricted stock awards for the next 3 years, according to a regulatory filing.  The bump in pay of the CEO since 2000 matches the firm's 48% jump in stock during the 12 months ending 11/30.  To his credit, Mr. Handler had been approved by the compensation committee for an $8 billion bonus for 2012, though he opted for that figure to be cut by $3.1 million during some very delicate times for Jefferies - which was tied into some of the problems associated with MF Global.  Nevertheless, as a safety measure, the bonus is subject to a 100% forfeiture for 1 year.

Tops Blankfein, Dimon and JEF Chairman Friedman.   For now, his annual pay tops that of Goldman Sachs CEO Lloyd Blankfein, JPMorgan Chase CEO Jamie Dimon, and Jefferies chairman Brian Friedman.

• Lloyd Blankfein, 58, received $21 million for 2012, including (i) $13.3 million in restricted stock and (ii) $5.7 million in cash, in addition to a $2 million salary.
• Jamie Dimon, 56, was awarded $11.5 million for 2012, including (i) a $750,000 base salary, (ii) a $3.75 million cash bonus and (iii) $9.75 million in long-term equity incentives
• Brian Friedman, 57, ahead of his expected appointment as president of the company, got $14.3 million pay package for 2012, including (i) a $750,000 base salary, (ii) a $3.75 million cash bonus, and (iii) $9.75 million in long-term equity incentives.

As for the non-executive members at Jefferies, employees received word that the New York-based firm would pay year-end bonuses in immediately available cash to distinguish itself from its larger bank-holding company rivals.  However, if an employee should leave for a competitor, the firm will maintain clawback policies on year-end compensation, according to a provision established in 2011.

For further details, go to [Bloomberg, 1/29/13].