Press
Pay Clawbacks Raise Knotty Issues
Wall Street is getting its first high-profile opportunity to prove it is serious about recovering pay from executives whose blunders waste shareholder treasure. J.P. Morgan ChaseJPM +0.69% & Co., the nation’s biggest bank by assets, is expected to try to claw back some of the pay it awarded to executives and traders at the unit at the…
Read MoreBankers to Get Bonus Bumps in 2012: Survey
Big banks are expected to use a larger portion of profits for employee bonuses this year, despite extensive job cuts and a recent outcry from shareholders over excessive pay, according to a closely watched survey of Wall Street compensation… Johnson Associates said 2012 bonuses are expected to be constrained for top executives whose compensation packages…
Read MoreModerate’ Money Management Bonuses in 2012, Consultant Says
Bonus payouts by traditional and alternative money management firms look set to rise “moderately” in 2012, as market appreciation makes up somewhat for stagnant net flows, according to a report Wednesday by compensation consulting firm Johnson Associates. In a telephone interview, Alan M. Johnson, managing director, called the environment for money management firms so far…
Read MoreDimon Widens Gap With JPMorgan as Wall Street Pay Slides
Jamie Dimon, awarded $23 million for running JPMorgan Chase & Co. (JPM) last year, earned 67 times the average amount set aside for his investment bankers and traders, the widest gap among firms that report divisional pay. Bloomberg / April 16, 2012 READ ARTICLE
Read MoreCiti Pay Vote Could Prompt More Shareholders to Say ‘No’
Shareholders sent a message to Citigroup Inc. this week when they voted against hefty pay packages for its CEO and other top executives. April 12, 2012
Read MoreAnalysis: U.S. CEOs’ Take-Home Pay Climbs On Stock Awards
The take-home pay of U.S. chief executives grew at least 10 percent in 2011, propelled largely by a stock market rally, according to consultants’ estimates. Reuters / April 2, 2012 READ ARTICLE
Read MoreGoldman Sachs Traders Knopman, Ha Said to Depart for Hedge Funds
Goldman Sachs Group Inc. credit traders Matthew Knopman and Philip Ha are leaving for hedge funds after the fifth-biggest U.S. bank by assets cut jobs and pay last year. Bloomberg / March 26, 2012 READ ARTICLE
Read MoreWall Street Bonuses May Surge 20% This Year, Consultant Says
Wall Street bonuses hit bottom and are poised to rebound about 20 percent this year as markets improve, according to Alan Johnson, president and founder of compensation consulting company Johnson Associates Inc. “The major wall street firms have cut enough of their costs that it doesn’t take much in the way of increased revenue to…
Read MoreLateral Hiring on Wall Street Hits the Brakes
Every year since the 2008 crisis, investment bankers at many of the large global banks have seen less and less of their bonuses in up-front cash and more in deferred stock and staggered cash payouts pushed out to two to three years down the road. During the 2011 bonus season, banks including Morgan Stanley, Barclays…
Read MoreInsurer Is Said to Forgo Bonuses Under Pressure
MBIA did not award bonuses to its top executives in 2011, but only after its regulator pressured the beleaguered bond insurer to withhold the payouts, people briefed on the matter said. The New York Times / March 12, 2012 READ ARTICLE
Read More