Bloomberg reports that, according to records from US pay czar Kenneth Feinberg, top executives at Bank of America and Citi received an average $18.2m in compensation each last year.

According to Feinberg's records, Citi paid 21 managers an average of $18.6m each, while Bank of America paid 13 executives an average $17.5m each.

In the meantime, The Financial Times reports that Yusuke Yasuda, the head of BNP Paribas's brokerage unit in Japan, has resigned. The unit's derivatives operations has been ordered to stop trading for two weeks due to a breach of local securities rules.

The newspaper also reports that three senior investment bankers at Dresdner Kleinwort (now owned by Commerzbank) have been awarded over $16m in severance pay and bonuses by the High Court in London. The payouts will go to John McIntyre (former UK M&A head), Betrand Pinel (ex-head of global finance), and Alberto Piedra (former head of global banking).

And The New York Post reports that Goldman is coming in for some flack for saying that it wasn't materially exposed to Lehman Brothers, but then raising claims totalling some $2.5bn on the bankrupt firm's estate. At less than one quarter's profit, however, $2.5bn is probably 'immaterial' to the firm.

Reuters reports that ING has confirmed that it is to split itself up into two, splitting off its insurance units from the rest of the businesses. The Dutch financial services giant will also raise $11.25bn in a rights issue to repay 50% of the state aid it received to beef up its balance sheet.

The Daily Telegraph reports that Merrill Lynch has been fined over $4m by Ireland's financial regulator over two cases of traders inappropriately valuing their trading positions. Both incidents are said to have occurred in London, and resulted in combined losses of $461m.

And Legg Mason's Bill Miller told Reuters earlier this month that stocks could have another 20% to run, and that expectations about the performance of the US economy could turn out to be too pessimistic.

Finally, Raja Rajaratham, the founder of hedge fund Galleon Group who is accused of masterminding an insider trading ring, met the conditions of his $100m bail bond last week. And Reuters is now reporting that US federal prosecutors have widened their investigation by sending a subpoena seeking the trading records of a former employee of SAC Capital Advisors, who left the firm in 2004.

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