JPMorgan lifts chief executive Jamie Dimon’s pay by 8% to $39mn

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JPMorgan Chase raised longtime Chief Executive Officer Jamie Dimon’s pay 8 percent to $39 million, his biggest payday at a US bank.

Payment growth DamonThe longest-serving CEO among the largest US banks has roughly doubled his 2023 severance package.

Morgan: The New York group’s commercial and investment banking divisions posted a blockbuster fourth-quarter profit last year, with the bank’s shares up 41 percent in 2024, in line with other big lenders.

“The 2024 annual compensation reflects Mr. Dimon’s stewardship of the firm,” JPMorgan said in a regulatory filing late Thursday.

DIMON’S 2024 PAY package included $1.5 million in salary, $5 million in cash bonuses, and the rest in restricted stock.The $39 million pay match that of Goldman Sachs CEO David Solomon, who was handed a 26 percent raise.

Dimon, 68, has led America’s largest bank since 2006, seeing it through the 2008 financial crisis that transformed the industry and other periods of upheaval, such as the coronavirus pandemic.

In 2021, JPMorgan awarded DIMON a $50 million start bonus that will tie him to the bank until mid-2026.

Wall Street Group is also Dol Doled Doubleit Pay raises other top executives of last year.

Enn Enifer Pipsakwho was named JPMorgan’s chief executive officer earlier this month, was paid $21.5 million, a 16 percent increase from 2023.

Marianne Lake, who runs JPMorgan’s retail bank, also received a 16 percent raise to $21.5 million JPMorgan’s top case.

Doug Petno, co-chairman of JPMorgan’s commercial and investment bank and also seen as a contender to replace Dimo, received a 21 percent payout last year, up to $20 million.