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Thursday, March 17, 2016

2015 CEO Salary Ranked for Five Largest US Banks

Despite a year where the average price gain of the five largest US banks fell, see chart of 2015 bank price gains below, their leaders salaries for 2015 were flat to up 35%.  

Yesterday Reuters published the article "Citigroup CEO Corbat gets 27 pct pay hike in 2015" with the pay raises and current salary for the leaders of the top five US banks.   

JP Morgan, the largest bank and parent of Chase Bank, paid its CEO Jamie Dimon twenty-seven million dollars, the highest salary of the five largest banks last year.  Below I rank the total pay from high to low.

CEO Pay Ranking:
  1. JP Morgan (JPM) Chief Executive Jamie Dimon +35% to $27M.
  2. U.S. Bancorp (USB) head Richard Davis +20% to $21.7M.
  3. Wells Fargo (WFC) boss John Stumpf unchanged at $19.3M.
  4. Citigroup (C) CEO Michael Corbat +27% to $16.5M.
  5. Bank of America (BAC) CEO Brian Moynihan +23% to $16M.
Only JP Morgan and Wells Fargo saw their stocks appreciate in 2015.  This compares the price return for the five largest US banks with the banking ETF, XLF.
Note, this data includes reinvested dividends

It is a good job if you can get it!
I love it when years of hard work pays off!
Kirk Lindstrom's Investment Letter 
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