The Strategist

JPMorgan Chase head becomes the highest-paid banker in the US once again

07/23/2018 - 15:20

The head of the largest in terms of assets the US bank JPMorgan Chase, Jamie Dimon, in aggregate earned $ 28.3 million in 2017 and once again became the highest paid top manager of Wall Street.

World Economic Forum
World Economic Forum
According to S&P Global Market Intelligence, his compensation grew by 3.9% compared to last year.

CEO of Bank of America, Brian Moynihan, earned $ 21.3 million, including salaries and bonuses, in 2017, and the head of CitiGroup Michael Corbat brought home $ 17.8 million.

The fourth place among the highest-paid bankers is taken by the head of Wells Fargo Timothy Sloan, who earned $ 17.5 million. This situation was an unpleasant surprise for analysts who noted a number of major scandals when the bank was accused of imposing unnecessary services on clients and creating accounts without their knowledge.

It is also interesting that the remaining six directors in the top ten are representatives of regional banks. Goldman Sachs CEO Lloyd Blankfein and Morgan Stanley CEO James Gorman earned less than $ 10 million and did not rank among the leaders.

Experts note that last year has been successful for US banks thanks to the growth of the US economy, lower unemployment, less regulation by supervisors and higher interest rates. At the same time, many banks reported a net loss due to write-offs related to the tax reform.


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