Robert Kelly, chairman, president and chief executive of custodian and fund manager Mellon Financial, received a $5m (€3.8m) bonus last year, more than three times the bonus paid to his predecessor.

Mellon said in a filing with the US Securities and Exchange Commission that Kelly also received stock options for $22m worth of shares which will vest over five years and restricted stock worth $1.8m. Kelly's annual base salary remained at $975,000.