JPMorgan Chase, an exceptional 2023 for the largest American bank
2023 was, however JPMorgan Chase, the largest American bank, an exceptional year despite inflation and the many shadows of a part of the banking sector. The institute gained new market shares. In relation to these successes also the CEO’s salary, Jamie Dimon, it was record-breaking. The Group, in the year that has just ended, has touched the 162.4 billion dollars in revenues with a net profit of 49.6 billion dollars. A figure that moved the stock to $16.23 and the quarterly dividend from $1.00 to $1.05 per share.
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Record results obtained for the sixth consecutive year. Given this exceptional situation, the board of directors of the institute has decided to increase his salary CEO and President at 36 million dollars. Communication given officially by the SEC (the Securities and Exchange Commission of the United States). The release reads that “Annual compensation for 2023 reflects Dimon’s stewardship of the company, with growth across all of its market-leading business lines, record financial results and a strong balance sheet. Additionally, the firm successfully guided and supported its clients through the regional banking crisis and completed the acquisition of First Republic”.
JPMorgan Chase, an all-round success
In short, an all-round success. There was also no shortage of surprising words of praise about the manager in question “talented and experienced capable of growing the company, increasing its reputation with solid investments for the future and maintaining leadership positions in the market”. But how is the number one’s monstrous salary structured? Compensation consists of an annual base salary of $1.5 million and a variable “fee” dependent on performance.
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Of this “fee” Dimon will have 5 million in cash and 29.5 million tied to shares. Outside these important numbers are extra expenses. This entry in 2022 meant $320,000, broken down into expenses for personal use of company planes, company cars, residence, personal travel and personal security. In short, a very respectable emolument for someone who skillfully leads the most solid and important bank in all of America.
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