JPMorgan’s Dimon Stays King of Wall Street, Gets $31 Million Payday

JPMorgan's Dimon Stays King of Wall Street, Gets $31 Million Payday

Jamie Dimon, CEO of JPMorgan Chase & Co. ( JPM – Get Report ) , the largest U.S. bank, says he doesn’t fret over the vagaries of stock and bond markets — roiled in recent months by speculation over the health of the U.S. economy, President Donald Trump’s trade war with China and, more recently, the longest government shutdown in modern history. Instead, Dimon told investors last week on a conference call, he just tries to keep stealing business from his biggest Wall Street competitors. "You don’t know what’s going to happen next quarter," Dimon told investors last week on a conference call. "I honestly could care less." Such indifference might be paying off for JPMorgan shareholders, as well as for the CEO personally. The New York-based bank not only trounced rival U.S. banks in the trading business last year — with 38% more revenue than the next-closest competitor, Citigroup Inc. ( C – Get Report ) — but it disclosed late last week that Dimon got a $29.5 million bonus for 2018, on top of his annual salary of $1.5 million. His total compensation of $31 million last year represents a raise of roughly 5% over 2017 levels. And while shareholders might cavil at the sum, given the bank’s 8.7% stock-price decline in 2018, JPMorgan outperformed its Wall Street rivals, by far. Citigroup’s stock tumbled 30% last year, Morgan Stanley ( MS – Get Report ) lost 24% and Bank of America Corp. ( BAC – Get Report […]

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