BROWSE BY TOPIC
- Bad Brokers
- Compliance Concepts
- Investor Protection
- Investments - Unsuitable
- Investments - Strategies
- Investments - Private
- Features/Scandals
- Companies
- Technology/Internet
- Rules & Regulations
- Crimes
- Investments
- Bad Advisors
- Boiler Rooms
- Hirings/Transitions
- Terminations/Cost Cutting
- Regulators
- Wall Street News
- General News
- Donald Trump & Co.
- Lawsuits/Arbitrations
- Regulatory Sanctions
- Big Banks
- People
TRENDING TAGS
Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
ABOUT FINANCIALISH
We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.
Stay Informed with the latest fanancialish news.
SUBSCRIBE FOR
NEWSLETTERS & ALERTS
FOLLOW US
JPMorgan Slashes Executive Payouts
January 31, 2012
[ by Melanie Gretchen ]
JPMorgan Chase cut the stock awarded to its top execs by 15%, amid the fall in price of the firm's shares. In total, CEO Jamie Dimon's operating committee received $61 million in restricted shares plus stock options for 2011 - this translates to average stock payouts of $4.7 million per executive, as of the 1/18/12 award date.
By comparison, the 14 committee members in 2010 received $71.4 million of stock award, which average following the 2010 year, which averaged $5.1 million a year when the shares of the New York-based firm were higher.
[C-I Note: Don't know how you feel, but the entire tone of this story from Bloomberg is condescending to readers and to Wall Street employees who have not attained the 'exalted' and rarified status as a member of the operating committee. Yes, the members took a 15% cut from '10. But, give us a break - they still received on average restricted stock worth $4.7 million per executive So what if that falls short of the $5.1 million received in 2010.
To top it off, Frank Glassner, CEO of Veritas Executive compensation Consultants in Frisco, has the audacity to say (and Bloomberg's Dawn Kopecki had the poor taste to include the statement in her article) that the [15%] reductions show JPMorgan's top managers aren't immune from pay cuts being felt across Wall Street." Oh PLEASE!!!] Banks cutting down. As part of an emerging trend, Morgan Stanley will cut pay for senior investment bankers and traders by an average of 20-30%, people with knowledge of the decision said. Goldman Sachs has reduced its compensation and benefits expense by 21% to $12.2 billion in 2011 as revenue fell 26%. As for Mr. Dimon of JPMorgan, his 2011 pay continued at $23 million. And still: it's good to be the boss. For further details, go to [Bloomberg, 1/23/12].Related Stories: Archive
-
Legal Funding Firm Accused of Scamming 9/11 Heroes, NFL Retirees
February 8, 2017 -
Elizabeth Warren, Wall Street Pariah, Now Has Lost Her Left-Wing Following
January 19, 2017 -
What We Know and Don’t Know About the Trump-Russia Dossier
January 11, 2017