Those who perform well will get paid well at JPMorgan. The firm increased the stock payout to the top 15 executives of Jamie Dimon's operating committee by 14% last year.
They received more than $73 million in restricted shares, in addition to stock options, according to Jan. 21 filings. The number is up from $64.2 million in stock the top 16 executives received a year ago.
Who got the most? Jes Staley, 54, CEO of the investment bank, took home $8 million in restricted shares and 230,770 stock options. Ina Drew, 54, Chief Investment Officer, came in second with $7.4 million in restricted shares and 153,847 in stock options.
Dimon and his wife own more than 5 million shares that are worth more than $221 million.
Other firms might be cutting back on compensation, but it doesn't look like JPMorgan is heading in that direction for top executives. (Bloomberg)
Get Rich at BlackRock (FINS)
Employees of the world's biggest asset manager took in more money on average in 2010 than they did in 2009 -- 53% more. How's that for a raise?
Say on Pay (Bloomberg Businessweek)
The SEC is giving shareholders more of a voice when it comes to executive pay. It just approved a rule under Dodd-Frank that would allow shareholders to vote as often as once a year on compensation plans. The votes don't appear to be binding, though, which may defeat the purpose.
Expanding Again (Deal Journal)
Moelis & Co. announced the hiring of Alexandra Oldroyd as a managing director for its London office yesterday. She will focus on the food-and-beverage sector.
Cantor Fitzgerald to Hire 100 Equities Pros (FINS)
The investment bank is staffing up under new department head Jarred Kessler.
Court-Ordered Bonuses (Financial News)
Unsatisfied with your bonus this year? Don't bother suing for you what you think is yours. Courts are increasingly unsympathetic to financiers' tales of woe when it comes to compensation.
Harsh Rules (FINalternatives)
The SEC has the hedge fund industry in its sights. It's proposed a new rule that would expand the amount of information regulators can extract from hedge funds and private equity firms. The new rule would affect firms with more than $1 billion in assets the most.
Related: Hedge Fund Hiring 2011
This Land is My Land (Real Time Economics)
Some states are faring better than others when it comes to unemployment rates. If you fancy spending cold winters with Coen brothers fans and hockey diehards, head to North Dakota: the rate is only 3.8%. You could choose warm weather in Nevada, but the rate there is 14.5%.
Welcome to Davos (Bloomberg)
The time has come! Hordes of bankers, business executives and other generally elite people have descended upon the Swiss municipality. While last year's conference focused on regulation and revamping the banking industry, this year bankers can expect to party 'till dawn.
Related: Davos Asks Partners to Send More Women
Referring Yourself (AOL Jobs)
Don't waste valuable space on your resume with references. Have a separate sheet ready with a name, relationship to you, and contact details. Also be sure to let your references know they'll be contacted.
Pizza Delivery (Dealbreaker)
Papa John has a brand new enemy: Papa Stevie Cohen. SAC Capital is chewing on a large slice of cheese pizza. That is to say, the firm has acquired a 5.3% stake in Domino's Pizza.
List of the Day: Cover Letters
They're evil; you don't want to do them; they're the bane of your existence. We understand. But a good cover letter can separate you from the rest of the pack. Here's how to do it right.
1. Tell them what you can do for them, not what they can do for you.
2. Sync your qualifications with their requirements.
3. Keep it to one page.
(Source: AOL Jobs)
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