Amid Record Bank Earnings, Jamie Dimon’s Salary Rises To $31.5 Million In 2019

Topline: After J.P. Morgan set new revenue and inventory worth information in 2019, America’s greatest financial institution subsequently raised the wage for its CEO, Jamie Dimon, to $31.5 million—making it possible that he’ll once more be the very best paid big-bank govt within the U.S.

  • The J.P. Morgan Chase CEO/s compensation amounted to $1.5 million in base wage and $30 million from performance-based incentives—together with $5 million in money and $25 million in inventory compensation, in line with a brand new submitting launched late on Thursday.
  • J.P. Morgan posted a document revenue of $36.Four billion in 2019, greater than any financial institution in historical past and a 12% enhance from the 12 months earlier than, serving to the inventory rise 43% to finish the 12 months at an all-time excessive of virtually $140 per share.
  • Because of his position overseeing the financial institution’s profitable run final 12 months, Jamie Dimon appears to be like set to stay the highest-paid CEO within the banking business, in line with the Wall Avenue Journal.
  • In 2018, Dimon acquired a complete compensation bundle of $31 million, whereas his closest competitor was Morgan Stanley CEO James Gorman, with a $29 million wage.
  • Whereas most large banks are but to reveal CEO pay for 2019, few can match Chase’s banner 12 months: Morgan Stanley lately disclosed that it lower Gorman’s wage by 7% to $27 million, after its shares underperformed rivals.
  • After many years working among the greatest lenders within the U.S., Dimon is likely one of the few billionaires in banking, with a web value of $1.7 billion, in line with Forbes.

Tangent: Though Jamie Dimon has beforehand criticized wealth inequality, he additionally noticeably averted questions on his personal hefty wage final 12 months.

Massive quantity: Between 1991 and 2015, Dimon has been paid $115 million in wage alone, Bloomberg reported.

Key background: J.P. Morgan Chase inventory surged after stellar fourth-quarter earnings, which added thousands and thousands to Dimon’s fortune. The financial institution trounced Wall Avenue forecasts, saying earnings of $2.57 per share, considerably larger than the $2.36 anticipated by analysts. Total income rose over 4% from a 12 months earlier, to a document of virtually $28 billion because of a rebound in buying and selling income. “JP Morgan Chase produced strong results in the fourth quarter of 2019, capping off a solid year for the firm where we achieved many records, including record revenue and net income,” Dimon mentioned in an earnings launch.

 

About The Author

You might be interested in

LEAVE YOUR COMMENT