JPMorgan Raises CEO Dimon's Pay 10% to $34.5 Million for 2021 [Business News Network (BNN) (Canada)]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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Source: Business News Network
The pay package includes $28 million of restricted stock tied to performance, an annual base salary of $1.5 million and a $5 million cash bonus, the biggest U.S. bank said Thursday in a regulatory filing. Dimon, 65, was paid $31.5 million a year for both 2020 and 2019. “Amid the continued challenges of Covid-19 and supply chain disruptions, under Mr. Dimon's stewardship, the firm continued to serve its clients and customers around the world,” the bank said in the filing. It did so “during a time of unprecedented business demands, while supporting and providing a safe work environment for its employees and investing in and executing on strategic initiatives.” The move is the latest sign that banks are paying their most senior leaders more as well, after compensation pressures emerged last year from the junior ranks up through the banking and trading hierarchy. Firms were forced to raise salaries for burned-out junior bankers and are paying higher bonuses after showing restraint in
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