A Donegal born businessman has been recognized as one of the 50 best-paid executives on Wall Street, according to a Bloomberg report of the top paid CEOs in finance.

Liam McGee, who was born in Donegal, turned down a top position to manage Allied Irish Bank (AIB) after they capped their salaries at €500,000 ($624,000) a year.

In 2009, McGee joined Hartford Financial Services Group where he serves as Chairman and Chief Executive Officer of the Company.

According to Forbes, prior to joining the company, McGee worked for Bank of America Corporation, which he joined in 1990.

Last year he earned almost $8 million in total compensation which earned him the 39th position in Bloomberg’s best paid US financial services executive list. In 2010 he earned $10.6 million.

A native of Co. Donegal, McGee grew up in Southern California. A graduate of the University of San Diego, he has a master's degree in business administration from Pepperdine University, and a law degree from Loyola Law School.

According to the Bloomberg U.S. CEO’s compensation collectively rose by an average of 20.4 percent in 2011.

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