Jamie Dimon remains the highest-paid chief executive, but his 5% pay raise was smaller than that of at least five of his counterparts. Here's what CEOs of 13 large and regional banks earned last year, based on recent proxy filings.
Raises for the rank and file have fueled investor complaints that banks aren’t keeping a lid on expenses. Executives say the pay increases have lowered turnover and improved customer service.
PNC revealed the plan as part of its report of strong second-quarter results, and CEO Bill Demchak said it is an example of the regional bank's growth-oriented investments.
The firms were initially slated to be included in a newly merged trade association, but they were blocked after some executives objected to adding more Wall Street banks.
Whether they’re thwarting cyber thieves or building out new apps, bank chiefs say hefty tech investments are now a cost of doing business — but they have to convince shareholders.
Bankers hoped the tax overhaul would stimulate a boom in business borrowing, but several said this week that hasn’t happened yet. PNC’s Bill Demchak warned that the tax cuts could be encouraging lenders to underprice loans.
