The top 10 highest-paid employees received $209 million in cash and stock, slightly higher than the $201 million the top 10 received in 2008, the Wall Street Journal reported on Monday.
Merrill Lynch investment banker Andrea Orcel was paid $33.8 million in cash and stock in 2008, the Journal stated.
He was one of eleven executives at the investment bank which received $10 million or more in cash and stock in 2008 even as the company reported an overall loss of $28 billion.
Merrill spokeswoman Victoria Garrod in London said that on behalf of Orcel and the company they were unable to comment about the released compensation information.
A review of documents by the Journal also indicated that 149 executives received $3 million or more.
The stock awards have fallen sharply since then due to the company's troubles.
Last Updated 2:09 p.m. EST