Bank chiefs earn 53 times the salaries of staff
(AGI) Rome, June 23 - The salaries of Italian bank CEOs fell14.18 percent in 2014, while the pay of the management of thelargest insurance companies edged up just 1.6 percent,according to research conducted by UILCA, the trade union forbanks, insurance, and tax collectors. The research shows thatthe decline in salaries of bank CEOs was "due in part to a 3.6million euro penalty paid to the former CEO of Intesa Sanpaolo,Enrico Cucchiani, for early termination of his contract in2013". However, despite this decline, the average pay of topmanagers was still 53 times