JPMorgan CEO Gets Record Pay -- WSJ

By Patrick Thomas 

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (January 18, 2019).

JPMorgan Chase & Co. Chief Executive James Dimon received a compensation package valued at $31 million in 2018, up 5% from $29.5 million in 2017, according to a Thursday securities filing.

The CEO earned a base salary of $1.5 million and $5 million in cash, the same as a year ago, and $24.5 million in restricted equity, according to a filing with the U.S. Securities and Exchange Commission. His pay exceeds his record compensation of $30 million in 2007 before the financial crisis.

Mr. Dimon, who has run the bank since late 2005, was the highest paid banking and finance chief executive in the S&P 500 in 2017. The median pay for the 43 banking and financial CEOs was $12.1 million, matching median pay for the S&P 500 as a whole, according to a Wall Street Journal analysis of pay data from MyLogIQ LLC.

In the filing, the company said it took into account the company's strong performance in 2018.

The bank reported a profit of $7.07 billion, or $1.98 a share, in its latest quarterly earnings. JPMorgan's trading revenues decreased 5.7% to $3.17 billion from about $3.37 billion a year earlier. For the year, earnings were $32.5 billion, up nearly 23%.

Chief Financial Officer Marianne Lake received a compensation valued at about $15 million, compared with $13.5 million a year ago.

Shares of JPMorgan are down about 9% over the past year.

Corrections & Amplifications JPMorgan Chase earned $32.5 billion in 2018. An earlier version of this article incorrectly stated the figure as $32.5 million.

(END) Dow Jones Newswires

January 18, 2019 02:47 ET (07:47 GMT)

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