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Investment bank CEO pay drops 43%

The average compensation for investment bank chief executives fell by 43% to $27m (€17.3m) last year, mirroring a 13% average drop in their share prices as exposure to the sub-prime mortgage market took its toll, according to research from Citigroup.

Goldman chief executive Lloyd Blankfein topped the list with $70.3m in tandem with the strongest share performance of the group, up 17%.

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