News Topic: Compensation

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Executive vice presidents and above will be evaluated on how they contributed to progress on efforts to curb the firm’s use of carbon, improve financial inclusion and reach gender-pay parity, CEO Michael Miebach said in a memo to staff. ]] ... Read full article

The largest banks have cut compensation or held it steady for their top executives. Many regionals are expected to make similar decisions as boards balance the desire to reward strong leadership during the pandemic with lackluster financial performance and ... Read full article

Bank of America will book a $400 million expense in the first quarter to account for a change in bonus policies that sparked anger among high earners. ... Read full article

Bank of America and Citigroup trimmed compensation for their chief executives in 2020, a year in which banks exercised restraint in compensating employees as the pandemic ravaged the economy. ... Read full article

Bank of America and Citigroup trimmed compensation for their chief executives in 2020, a year in which banks exercised restraint in compensating employees as the pandemic ravaged the economy. ... Read full article

Anger is building in the senior ranks at Bank of America after the company waived an unpopular new bonus policy for top traders and dealmakers while keeping the plan in place for other employees. ... Read full article

Stephen Steinour, the head of Huntington Bancshares, approached TCF Financial about a merger three days after the latter's CEO abruptly retired. An agreement was sealed in about six weeks. ... Read full article

Wells Fargo cut its chief executive's compensation about 12% for 2020, a year in which shares tumbled and the company slashed its dividend and reported its first quarterly loss since 2008. ... Read full article

Bank of America scrapped a proposed bonus policy this week after it provoked the ire of high-earning traders and dealmakers, some of whom could have missed out on a big chunk of their compensation. ... Read full article

The JPMorgan Chase CEO's total compensation went unchanged at $31.5 million for his work in 2020, a year in which a global pandemic roiled the economy and caused banks to set aside billions to cover future bad loans. ... Read full article