JPMorgan's Jamie Dimon pulls in $31.5 million
The lion's share of Dimon's fat paycheck is tied to performance
JPMorgan CEO Jamie Dimon is among the millions of Americans who are seeing their paychecks rise.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 248.55 | +3.79 | +1.55% |
The banking chief pulled in $31.5 million last year, according to a filing with the Securities and Exchange Commission released Thursday, a slight bump from the prior year's pay of $30 million.
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Dimon, who many regard as one of the world's top banking leaders, earned the lion's share of his paycheck — $30 million — because he met performance metrics, the board said noting the firm's performance.
The stock has gained more than 33 percent during the past 12 months, beating the S&P 500's gain of 26 percent.
Earlier this month the bank reported record profits of $36.4 billion.
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Additionally, he earned points for pushing the firm forward in areas including technology, hiring, lending and branch openings.
"The firm continued to make large investments in technology, including artificial intelligence, cloud, digital and payments, as well as other investments in innovation, talent, security and risk controls," said the board in the SEC Filing. "During 2019, the firm extended credit and raised capital of $2.3 trillion for U.S. consumers, businesses, institutional clients and nonprofit and government entities."
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In 2019, JP Morgan opened 70 branches in 16 new markets and became the first U.S. bank to be approved for a majority-owned securities business in China, according to the board's SEC filing.
The bank's success even caught the eye of President Trump.
Earlier this month, during the historic signing of the U.S.-China phase one trade deal, Trump noted how well the bank had performed.
"They [JPMorgan] just announced earnings and they were incredible," said Trump while thanking Mary Erodes who runs JPMorgan's Wealth and Asset Management and other CEOs who attended the signing. "They were very substantial, will you say thank you, Mr. President, at least?" he quipped. "I made a lot of bankers look very good but you are doing a great job, say hello to Jamie" he said.
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While Dimon was not present at the White House that day, Trump indicated he was expected to visit the following day.