Anastasia Kelly, AIG’s vice chair, is quitting because of the $500,000 pay cap. She talked with Rep. Dennsi Kucinich at a May 2009 hearing as then AIG CEO Edward Liddy watched. I would have loved to hear what Kucinich had to say to her.
When it became clear that the Obama Administration meant business in terms of slapping pay caps on top execs at financial institutions whose very survival was due to massive taxpayer help, chief executives at financial institutions warned that they would have trouble either attracting or keeping their talent.
They weren’t kidding in the case of Anastasia Kelly at AIG. The AIG vice chair has informed her employer that she’s out of there because of the pay caps.
NPR’s Tim Robbins reported for the network’s newscast, "The company says she is leaving for what it calls "good reason", then states that reason as the pay cap. Kelly will get a reported $3.8-million severance package."
Good riddance to her.