JPMorgan Chase CEO Jamie Dimon to Receive Nearly $30 Million for 2017

JPMorgan Chase CEO Jamie Dimon/CC

Jamie Dimon, the CEO of the largest US bank JPMorgan Chase, will receive a total salary of $29.5 million for 2017, up 5.4%, the institution said Thursday in a stock market document.

This compensation breaks down into a base salary of $ 1.5 million plus $ 28 million in bonuses and stock options based on the performance of the institution.

It’s the second-biggest payoff ever for Mr. Dimon, one of Wall Street’s most powerful bankers, since taking over at JPMorgan in 2005.

In 2007, he had collected $30 million, his all-time record, just one year before the financial crisis now known as the Great Recession that brought the US economy to its knees.

JPMorgan, the largest US bank in terms of assets, posted net a income of $ 24.4 billion in 2017 and returned $ 22.3 billion to shareholders in the form of dividends and share buybacks. The stock gained 22% over the whole year.

The bank’s other top executives were also spoiled.

Marianne Lake, the CFO, has seen her compensation increase from $ 12.5 million in 2016 to $ 13.5 million. The head of the investment Daniel Pinto will receive $ 21 million against 19 million a year ago, despite a subdued performance.

The Chief Executive Officer of the bank’s Asset Management division, Mary Callahan Erodes, will receive $ 19.5 million against 19 million in 2016, and the head of Consumer Community Banking, Gordon Smith, will receive $ 20 million, against 19 million a year earlier .

Editor-in-Chief of The Talking Democrat, Shakes enjoys bike riding, kayaking and playing soccer. On a slow weekend, you'll find him with a book by the lake.