Lehman Brothers chairman and chief executive officer Richard Fuld saw his pay rise 31% to $34.5m (€29m) last year on the back of the bank's record earnings.

Fuld got a $13.8m cash bonus and a base salary of $750,000 for 2005, according to a filing with the Securities and Exchange Commission, the US regulator.

Anuj Gangahar in New York

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Senior GIC private equity lawyer joins Dechert in London

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Dale Walsh will accelerate growth of the private bank and wealth management’s lending business

Northern Trust taps UN pension fund for head of international role

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Pedro Guazo, who joins in August, will also oversee the $1.3tn asset manager’s responsible investment platform globally

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David Frame is named global head of the private bank, helping deep-pocketed clients invest more abroad.

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The tech giant has been ramping up efforts to boost business growth in a bid to defend its place in China’s tech and commerce industries, as well as grow abroad.

Alibaba Readies $7 Billion Boost for Commerce Unit, Plans New Data Centers

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Lehman chief's pay rises to $34.5m

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