Bloomberg: Dimon, Blankfein Getting Bigger Cash Bonuses Even While U.S. Bank Rally Fizzles

Bloomberg: Dimon, Blankfein Getting Bigger Cash Bonuses Even While U.S. Bank Rally Fizzles

January 23 2015

By Dakin Campbell Jan 22, 2015 10:08 PM ET

Excerpt:

Wall Street banks retooled compensation in the wake of the financial crisis to emphasize stock that vested over years, ensuring executives had a stake in the health of their firms. That was a boon to employees as U.S. financial shares almost doubled over the past three years — a run that slowed in 2014. This year the stocks are off to their worst start since 2009.

“We’re a little too soon to be making these types of changes to go backward,” Joe Sorrentino, a compensation consultant at Steven Hall & Partners in New York, said of the incremental increase in cash. “Those two companies tend to be trendsetters and leaders, and everyone will be paying attention to the numbers obviously but also to the design.”

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