Philip Fasano earned both the highest salary among the CIOs included in our tally and the largest cash bonus. His 2015 compensation, worth $8.4 million, included his $1 million salary, a one-time bonus of $3.4 million that AIG paid to make up for compensation foregone from his former employer, and a $1 million installment paid as part of a “transition award” related to retirement benefits foregone from his former employer. AIG also picked up the tab for $112,911 in housing expenses related to Fasano’s relocation, including utilities and rent, plus $116,456 representing the reimbursement of taxes owed on his temporary living expenses.
Fasano joined AIG in October 2014 from Kaiser Permanente, where he was EVP and CIO. Fasano has also held IT leadership roles at financial services organizations including Capital One Financial, where he was the business information officer, and JPMorgan Chase and Deutsche Financial Services, where he served as CIO.
Stock awards: $1,606,091
Change in pension value and nonqualified deferred compensation earnings: $10,665
Perks and other compensation: $250,471