What You Must Know
- The financial institution had a file revenue of $49.6 billion final yr, boosted by rate of interest hikes and its buy of First Republic Financial institution.
- His complete pay is up 4.3% from 2022, when he made $34.5 million.
- The agency awarded $30 million to President Daniel Pinto and $27 million to asset and wealth administration chief Mary Erdoes.
JPMorgan Chase & Co. raised Chief Government Officer Jamie Dimon’s pay to $36 million for 2023, a yr during which the financial institution notched the highest revenue within the historical past of American banking.
The board granted Dimon a $1.5 million wage and $34.5 million of performance-based incentive compensation, based on a regulatory submitting Thursday.
His complete pay is up 4.3% from 2022, when he made $34.5 million.
“The agency is in a uniquely lucky place to be led by such a extremely proficient and skilled government who continues to develop the corporate, preserve market management positions, strengthen the agency’s repute, put money into alternatives for the long run, promote variety and finest practices, handle threat and develop nice leaders, whereas additionally sustaining his give attention to the agency’s shoppers,” the board mentioned within the submitting.
JPMorgan pulled in $49.6 billion final yr, boosted by the Federal Reserve’s rate of interest hikes and its buy of First Republic Financial institution in a government-led public sale. Shares rose 27% through the yr, outperforming all main rivals.
Different Pay Hikes
That’s now turning into raises of greater than 5% for the financial institution’s prime brass.
The agency awarded $30 million to President Daniel Pinto, $27 million to longtime asset and wealth administration chief Mary Erdoes and $18.5 million apiece to consumer-banking co-heads Jennifer Piepszak and Marianne Lake, based on the corporate.