Bonus Season Not As Festive For Bank CEOs


Salon Staff
January 22, 2012 4:27AM (UTC)

NEW YORK (AP) — JPMorgan Chase, the nation's largest bank, posted record profit for 2011. Morgan Stanley's latest quarter topped expectations as the bank trimmed costs and cleaned up mortgage-related problems. But CEOs Jamie Dimon and James Gorman aren't taking home bigger bonuses.

Banks are curbing bonus pay for last year, as stock prices slumped, mortgage-related costs still mounted and the Occupy Wall Street movement went national.

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On Friday, regulatory filings showed Gorman received 2011 stock awards valued at $5.1 million — half of what he got in 2010. JPMorgan's Dimon received restricted stock worth $12.6 million and stock appreciation rights reportedly valued at about $5 million. That's about even with the year before.

None of the banks have yet filed annual proxy statements, which include complete details on CEOs' pay.


Salon Staff

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