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He also received 178,945 options to buy shares of Morgan Stanley, which the bank valued at $4 million.
First-e, a Dublin-based Internet-only bank valued at euro1.1 billion ($1.1 billion) when it was acquired by Spain's BBVA in March, has laid off staff and cut expensive television advertising.
The chief executive of Citigroup, Vikram S. Pandit, was awarded deferred stock in the bank valued at $3.7 million based on the company's current price, according to a regulatory filing.
Compass' acquisition of the Fort Worth-based bank, valued at $464 million, will make Compass the fifth-largest bank in the lucrative Texas market and increase its total assets to $31.1 billion.
Part of the rise has been attributed to "shell shocked" employees who own 30% of the stock and are unwilling to accept that the bank, valued at $7bn a week ago, is worth such a paltry sum.
But WestLB is owned by two regional savings-banks associations, which might balk at its buying its own Sparkasse.Bidding for Berliner Bank, valued at around €400m, is seen by many as a dress rehearsal for the sale of Bankgesellschaft Berlin next year.
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On July 2nd Rothschild, an investment bank, valued the price at which BAE Systems, a British defence contractor, could sell its 20% stake in Airbus at €2.75 billion ($3.5 billion), much lower than EADS or BAE had expected.
Mr Merton's solution is for companies to include something similar to the banks' value-at-risk (VAR) measures in their accounts, which would make investors aware of the potential for big shifts in a firm's net assets.
It is a bit like "asking a plough horse to gallop on a racetrack," he says.In particular, he believes that users of accounts want them to highlight risks, and he thinks that they should include something similar to banks' value-at-risk (VAR) measures, which show the amount of money that a bank could lose from its trading at any moment in time.
This has also considerably heightened risk levels, as can be seen, for instance, in banks' Value-at-Risk measurements of their portfolio volatility.
At one point the bank was valued at just £289m ($534m), less than a tenth of its peak of £3.2 billion in 2006.
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