State Street: Logue Got Extra $1.5M 2004 Bonus

March 18, 2005 ( - State Street Chairman and CEO Ronald Logue got an extra $1.5 million 2004 bonus for a yearly total of about $6 million, the company said.

Disclosure of the additional $1.5 million – which was absent from the company’s compensation regulatory filing earlier this week – was contained in a refilled proxy Thursday with the Securities and Exchange Commission (SEC)., MarketWatch reported.

State Street said Logue earned the extra bonus for his services as president and chief operating officer in managing State Street’s integration of Deutsche Bank’s global securities-servicing business, spokeswoman Hannah Grove told MarketWatch. The Deutsche Bank deal occurred in 2002.

Logue, who had assumed his current role in June after the unexpected departure of former chairman and chief executive David Spina, also received a $1.3 million bonus last year, according to Grove.