Business
Investors want Jamie Dimon to Stay, Says Analyst Mayo
Citigroup Inc. lifted Chief Executive Officer Jane Fraser’s total compensation to $34.5 million for 2024 — up a third from the previous year — as she continues to drive a plan for higher returns at the Wall Street bank.
Fraser’s pay, the vast majority of which is in the form of stock-linked awards, is up from the $26 million she received for 2023 and represents the biggest raise among CEOs of large US banks.
Among her CEO peers, Fraser’s pay puts her ahead of both Wells Fargo & Co.’s Charles Scharf and Morgan Stanley’s Ted Pick, who received $31.2 million and $34 million, respectively. Both Goldman Sachs Group Inc.’s David Solomon and JPMorgan Chase & Co.’s Jamie Dimon were paid $39 million, while Bank of America’s Brian Moynihan was awarded $35 million.
Mike Mayo, Head of US Large-Cap Bank Research at Wells Fargo Securities, examines Dimon’s staying power and ultimate succession plan for JPMorgan, as well as Fraser’s turnaround success story at Citi.
Please note that Wells Fargo Securities, LLC and/or its affiliates, have beneficial ownership of 0.5% or more of any class of the common stock of Citigroup Inc. Wells Fargo Securities, LLC, or its affiliates intends to seek or expects to receive compensation for investment banking services in the next three months from an affiliate of Citigroup Inc.
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An AI boom has spurred historic rallies in Taiwan and South Korea’s stock markets. But with gains fueled by borrowed money and risky bets, what comes next? Find out on the Big Take Asia podcast.
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Is the US economy really as broadly strong as headline data suggests, or is it being powered by an extraordinary investment cycle? The AI capex boom might be underwriting an otherwise precarious economic environment. What happens when that spending begins to slow? Presented by @cmegroup
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Nouriel Roubini, CEO of Roubini Macro Associates, and Hudson Bay Capital senior economic strategist, talks about how he manages his own personal finances on “Bloomberg Money.”
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SpaceX aborted Thursday’s mission when some of its Starship rocket engines didn’t fire up. The company said it will aim to launch again in a few days. The delay amounts to another setback for a spacecraft central to Chief Executive Officer Elon Musk’s ambitions to put data centers in space, expand the Starlink communications network and send humans to the moon and Mars. Bloomberg Intelligence’s Matthew Bloxham has more.
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Its name is rarely spoken in public, but the family office of Abu Dhabi’s ruler is a global force with a huge appetite for deals. Ben Stupples explains.
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