Draghi Faces 50% Pay Cut When He Succeeds Trichet as ECB Head
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Bank of Italy governor Mario Draghi will face a pay cut of 50 percent when he replaces Jean-Claude Trichet as president of the European Central Bank in November.
Draghi’s salary in 2010 was 757,714 euros ($1,090,123), more than twice Trichet’s take, the Rome-based bank said on its website yesterday. It was the first time the governor’s salary was made public. Trichet’s basic pay was 367,863 euros, according to the ECB’s website. Federal Reserve Chairman Ben S. Bernanke pulled in $199,700 in 2010.