© Reuters. Jamie Dimon, Chairman of the Board and Chief Govt Officer of JPMorgan Chase & Co., speaks in the course of the occasion Chase for Enterprise The Expertise – Miami hosted by JP Morgan Chase Financial institution for small enterprise homeowners at The Wharf in Miami, Florida, U.S., Februa
By Nupur Anand
NEW YORK (Reuters) -JPMorgan Chase CEO Jamie Dimon’s compensation climbed about 4.3% to $36 million for 2023, the financial institution stated on Thursday.
The top of the most important U.S. financial institution was paid $34.5 million for 2022 and 2021 in opposition to a backdrop of financial uncertainty, geopolitical tensions and the lingering results of the COVID-19 pandemic.
Dimon’s 2023 pay bundle features a base wage of $1.5 million and a $34.5 million efficiency bonus that contains $5 million in money and $29.5 million in inventory, in response to a regulatory submitting.
“The annual compensation for 2023 reflects Dimon’s stewardship of the firm, with growth across all of its market leading lines of business, record financial results and a fortress balance sheet,” the financial institution’s board stated within the submitting.
“In addition, the firm successfully navigated and supported its clients and customers through the regional bank turmoil as well as completed the acquisition of First Republic,” it added.
JPMorgan earned its largest ever annual revenue final 12 months. After buying failed First Republic Financial institution (OTC:) in Might, its internet curiosity earnings – the distinction between what banks make on loans and pay out on deposits – surged to file ranges.
The 67-year-old financial institution chief has run JPMorgan since 2005. His estimated internet value is $1.7 billion, in response to Forbes.
Dimon and his household intend to promote 1 million of their 8.6 million shares, the lender stated in October.
The choice to promote inventory was not associated to management succession and Dimon had no present plans to promote extra inventory, however may take into account doing so sooner or later, an organization spokesperson stated on the time.
