WTVY  | Dothan, AL  | News, Weather, Sports

Bonus Season At a Slight Loss for Bank CEOs

By: AP
By: AP

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.

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.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WTVY-TV 285 N Foster Street Dothan, AL 36303 334-792-3195
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 137838728 - wtvy.com/a?a=137838728