JPMorgan Chase paid chief Jamie Dimon $31.5m last year

JPMorgan Chase awarded chief executive officer Jamie Dimon $31.5 million in total compensation for his work in 2019, a 1.6 per cent jump after his bank posted record profit for the second year in a row.

The pay package includes $25 million of restricted stock tied to performance, an annual base salary of $1.5 million and a $5 million cash bonus, the New York-based bank said Thursday in a regulatory filing.

Dimon has run the company since the end of 2005 and is the last of the CEOs that steered banks through the financial crisis.

JPMorgan notched the highest profit in US banking history for the second year in a row in 2019 with $36.4 billion, spurred by corporate tax cuts, growth in credit cards and a rebound in bond trading.

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Dimon (63) has been the best-paid of the major US bank CEOs since 2016 and he’s the second of that group to disclose 2019 pay.

Morgan Stanley said last week it cut CEO James Gorman’s compensation by 7 per cent to $27 million for 2019, even after the bank had its most profitable year on record. – Bloomberg