Jamie Dimon, chief executive and chairman of Wall Street investment giant JPMorgan Chase, reaped a bonus of about US$16 million in shares and options on shares last year, a bank spokesman said Friday.
“All of his bonus is in deferred equity, there is no cash,” spokesman Joe Evangelisti said.
News about Dimon’s hefty bonus comes amid a public furor over big bonuses that some blame for the excessive risk taking that fueled the global financial crisis.
Goldman Sachs chairman and CEO Lloyd Blankfein was also awarded a US$9 million bonus for last year, but in restricted stock that he must hold for five years, the company said.
The 58,381 in shares, which will convert into Goldman’s common stock in thirds over the next three years, is a fraction of the figures rumored in the media in recent weeks.
The compensation was made under a new policy aimed at ending a furor over the company’s soaring compensation, the company disclosed on Friday.
Last year, JPMorgan Chase repaid the US Treasury for an injection of US$25 billion in capital under the taxpayer-funded Troubled Asset Relief Program (TARP) set up to prevent the collapse of the financial system.
The TARP repayment freed the bank from government-imposed compensation restrictions.
Dimon led JPMorgan Chase, the second-largest US bank by assets, to huge profits last year as the financial sector recovered, benefiting from a rebound in equities.
The New York-based financial giant last month said it had quadrupled its fourth-quarter net earnings to US$3.27 billion and doubled its profits for the full year to US$11.7 billion.
Goldman Sachs, which along with JPMorgan Chase apparently best survived the financial crisis, posted huge profits last year, but moved to deflect criticism about bonuses to be paid from US$16 billion reserved for compensation.
HSBC Holdings PLC is deepening its commitment to Taiwan as the economy emerges as one of the bank’s fastest-growing markets globally, driven by an artificial intelligence (AI) investment boom, expanding cross-border trade, and rising wealth creation. “The advantage that Taiwan has is a growth story linked to the semiconductor and broader AI industries, strong underlying corporate performance, and wealth creation,” said Surendra Rosha, HSBC’s co-chief executive for Asia and the Middle East, in an exclusive interview with the Taipei Times on June 2, during this year’s HSBC Taiwan Conference. That combination has helped HSBC cement its position as the most profitable international
The New Taiwan dollar yesterday fell sharply against the US dollar to close at its lowest level since May 22 amid a massive outflow of funds from the country because of investors panicking over global equity markets. The NT dollar ended at NT$31.580 against the US dollar, slightly lower than its close of NT$31.568 on May 22, after moving between NT$31.5 and NT$31.648 on combined turnover of US$3.062 billion on the Taipei Foreign Exchange and the Cosmos Foreign Exchange. The NT dollar received a significant hit in the morning session, slumping as much as NT$0.173 at a time when other Asian currencies
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is now ranked ninth among the world’s 100 most valuable companies after its market capitalization more than doubled over the past year, PricewaterhouseCoopers (PwC) Taiwan said in a report last month. TSMC’s market capitalization surged 101 percent year-on-year to US$1.427 trillion as of March 31, the accounting and consulting firm’s 2026 Global Top 100 Companies by Market Capitalization report said. The gain catapulted the world’s largest contract chipmaker from 12th place to ninth in the rankings, and it was the fastest-growing among the global top 10, it said. TSMC was the only Taiwanese company among the top
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported record revenue of NT$416.975 billion (US$13.17 billion) for last month, putting the world’s largest contract chipmaker on track to set a record for quarterly revenue. Last month’s figure surpassed March’s record NT$415.19 billion and represented increases of 1.5 percent from April and 30.1 percent from a year earlier. For the first five months of the year, TSMC generated NT$1.96 trillion in revenue, up 30 percent year-on-year, it said in a statement. TSMC has forecast second-quarter revenue of between US$39 billion and US$40.2 billion, representing sequential growth of about 10 percent and year-on-year growth of about
RSS