JPMorgan Keeps Dimon’s Pay Steady at $31.5 Million for 2020

Bloomberg2021-01-22

JPMorgan Chase & Co.kept Chief Executive Officer Jamie Dimon‘s total compensation unchanged at $31.5 million for his work in 2020, a year in which a global pandemic roiled the economy and caused banks...

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2021-01-25
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Dimon has run the company since the end of 2005 and is the last of the CEOs who steered banks through the financial crisis and is still at the helm.\nThe move is a signal that the biggest U.S. bank is focusing on keeping costs down amid uncertainty about the prospects for the economy. JPMorgan’s annual profit fell 20% to $29.1 billion in 2020 as it set aside billions of dollars in the first half to cover future soured loans. Still, the clouds started to part as the year wore on: JPMorgan made more money in the fourth quarter of 2020 than it ever has in three months thanks to a jump in revenue from its trading and banking businesses. In 2019, the firm notched the highest profit in U.S. banking history for the second year in a row.\nDimon, 64, is the most prominent executive in global banking, serving as a spokesman for the industry and leading a juggernaut of both Wall Street and consumer lending. In March, he underwentemergency heart surgeryand temporarily handed control of the largest U.S. bank to lieutenants just as the coronavirus started rattling markets and the global financial system. 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