While State Street is squeezing costs, the new executive team managed to do ok. Chairman and chief executive David Spina received a 35 percent hike in compensation. His salary ($983,369) and bonus rose 35 percent to a combined $2.7 million, according to SEC filings. Still, after a year on the job his pay falls short of the pay of his predecessor, Nicholas Lopardo, who earned $5.4 million in total compensation his final year. Lopardo will receive $11.5 million in cash severance payments by June 30, 2004. Also getting a big raise was Ronald Logue, vice chairman and president, whose package rose in value 77 percent to $4.3 million.  

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