Citigroup’s investment-banking head, John Havens, has received more than $9 million in total compensation last year, making him the highest-paid employee, The Wall Street Journal reports. Havens’ pay package consisted mainly of 2.7 million shares, which accounted for his entire bonus and a portion of his salary. The shares were worth $8.97 million based on Citigroup’s $3.32 share price on Dec. 30.

Manuel Mora, who runs Citi’s Latin American operation, is believed to be the second highest-paid employee. Last week, he received about 2.55 million shares worth $8.5 million, including a cash salary. Three other unidentified Citi executives were due to receive about $9 million each in total compensation last year, according to a document sent by Kenneth Feinberg’s office to Citigroup last October.

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