Top US and European bankers, including Jamie Dimon of JPMorganChase and Vikram Pandit of Citigroup, have enjoyed annual pay rises averaging almost 12 per cent, despite widespread falls in profits and share prices, Financial Times research shows.
The news comes as concern on both sides of the Atlantic over chief executive pay levels has led to several high-profile investor revolts, including at Citi and Barclays, and as Europe’s leaders debate a cap on bank bonuses.
The analysis by Equilar, a US research group, of pay awarded to 15 bank chiefs shows they received an average 11.9 per cent pay rise last year to an average $12.8m, the second rise in a row. But the pace of growth has slowed.
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