General News

JPMorgan Greek-American CEO Jamie Dimon Receives $34.5 Million for 2022

NEW YORK – Compensation information for Greek-American banker Jaimie Dimon was released on January 19 according to the Wall Street Journal.

“JPMorgan Chase JPM -1.33% & Co. awarded Jamie Dimon $34.5 million for his 2022 compensation, the bank disclosed Thursday,” WSJ reported, adding that “Mr. Dimon had received $34.5 million for his 2021 work, along with a $50 million retention bonus that he could earn for staying in his seat at the head of the nation’s biggest bank.”

Dimon, who is 66 years old has been at the helm of the bank since 2005. He will need to remain as the head of the bank, one of the world’s biggest, four approximately more years in order to be eligible for the bonus.

The bonus, however, “had spurred shareholder anger, and investors voted against his pay at the annual meeting last year,” according to the article, which also noted that, “the board on Thursday said it ‘has committed to not grant any special awards to him in the future.’”

The 2022 package consists of a $1.5 million salary and a cash bonus of $5 million, but “the bulk of his pay is in restricted stock units that can’t be cashed in for several years and depend on the bank’s performance,” WSJ also noted.

“Mr. Dimon spent much of 2022 warning that he was worried about uncertainties that could slow down the global economy. The list included the war in Ukraine, the Federal Reserve’s rapid interest-rate increases and the unwinding of the pandemic economy,” the article continued.

On a recent conference call with reporters, Dimon said, “we don’t know the future… It may be a mild recession. It may not be.”

(Material from the Wall Street Journal was used in this article)


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