Use access key #2 to skip to page content.

stockmktdouble (27.33)

BANK CEOS TAKE BIG PAYCUTS-DOWN ALL THE WAY TO $11.5M

Recs

2

June 24, 2013 – Comments (1) | RELATED TICKERS: C , BAC , GS

BY FOXNEWS

Is it just me or is this a crazy world we live in? $11.5M?

 J.P. Morgan (JPM) CEO Jamie Dimon may have to scale back a bit this year.
Dimon, along with other top bankers in the U.S. and Europe, saw their average pay drop by 10% in 2012, according to the Financial Times. The pay cuts are the first for banking leaders in the past three years.
The newspaper reports the pay reductions  are a result of banks being under the gun from investor and regulatory pressures. The total pay awarded to the heads of 15 banks was acquired and analyzed by pay research firm Equilar.
But it’s unlikely anyone is shedding any tears for Dimon or his cohorts. Dimon, who faced a shareholder vote earlier this year to split his chairman and CEO role, still took home an average of $11.5 million in 2012, down 10% from 2011.
The paper’s analysis combines base salaries, cash bonuses and other benefits including option and stock awards.  FT reports these declines reflect a cap on bonuses that will go into effect across the EU in 2013.
But not all banking chiefs saw a smaller paycheck last year. John Stumpf of Wells Fargo received a higher check of $19.3 million and HSBC’s Stuart Gulliver raked in $12.9 million.
Across other sectors, chief exec salaries remained stable, according to the report. Equilar reports the average pay for S&P 500 CEOs, with at least two years in service, was $11 million, down 0.3% in the past year.
And for Antony Jenkins, group chief executive of Barclay’s, there’s always next year. Jenkins made only $4.1 million, the smallest paycheck on the list.

Stockmarketdouble.com

1 Comments – Post Your Own

#1) On June 25, 2013 at 12:28 PM, L0RDZ (81.83) wrote:

Can  you  imagine  if  someone  like  Jamie  does something  like  Courzine    and   say  transfers  a  ton  of  $$$  into  strange  places like  hidden  offshore  secret  bank  accounts.

Next day  its  like  wheres  the  money ?   no problem  the  fed just  transfers a  bunch of  zeros to  the end of  accounts...

same as  it  ever was...

Just a  tempest  in  a  little  tea pot...

DIDn't  HSBC  recently  pay  a  ton  because of  getting  caught  knowingly  handle  illicit  funds  from  drug dealers ?  arms  smugglers ?  dictators ?  and  criminal  enterprises?

I heard  Jamie  may  have  to let  one  of  the many  attractive  lady executives  go  ?

Ever  see  some of  the  attractiive people who work under bankers  doing   ? 

 

Report this comment

Featured Broker Partners


Advertisement