Veteran: Jamie Dimon of JP Morgan
JP Morgan boss Jamie Dimon enjoyed a 4 per cent rise in pay last year as he pocketed more than £28m.
The US banker, known as the ‘King of Wall Street’, took home his largest pay packet since taking the helm nearly 20 years ago.
Business magazine Forbes estimates his fortune at £1.5billion.
Dimon, 67, has been at the top of the company since December 2005.
In a regulatory filing explaining the pay boost, the bank said the increase in remuneration – up from £27.2m in 2022 – was a reward for Dimon’s stellar work.
‘The annual compensation for 2023 reflects Mr 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,’ a JP Morgan spokesman said.
The pay packet was made up of a base salary of £1.2m and a bonus worth £27.2m, most of which is paid in stock.
JP Morgan posted record annual profits of almost £40bn and surpassed the performances of other banks last year. For JP Morgan’s rivals, Goldman Sachs and Morgan Stanley, a sharp slowdown in deal-making sent 2023 profits tumbling to the lowest level in four years.
Other figures in Dimon’s executive team also received increases, including the bank’s president Daniel Pinto, who saw his pay rise 5.3 per cent to £23.7m.
British-American Marianne Lake, another senior executive and one of the most powerful female bankers in the world, was paid £14.6m, up 5.7 per cent on the previous year.
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