There is an article on Bloomberg about the salaries earned by risk managers, here.
Here are brief summaries I found on the web of the backgrounds of the people involved:
- Mr. Thompson holds an MBA from the Darden School at University of Virginia, where he graduated with honors, and a bachelor’s degree from Allegheny College, where he also graduated with honors and was elected to Phi Beta Kappa.
- Zubrow worked at Goldman Sachs from 1979 to 2004, JPMorgan said. His last job before leaving the firm where Corzine was co- chairman until 1999 was chief administrative officer.
- Brian (Leach) has a B.A. in economics from Brown University and an M.B.A. from Harvard Business School.
What I conclude from this is that these are not traditional risk people now making a lot of money. These are traditional make-a-lot-of-money people now doing risk.
Highly paid risk positions, I suspect, are still not quant positions. Not even clear if they should be, but that’s how it is.