Compensation
An aging workforce will likely force banks to reconsider the employees they recruit, especially for executive roles.
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Federal prosecutors in Manhattan are investigating the bank over allegations that it conducted so-called fake interviews with nonwhite and female job applicants, The New York Times reported Thursday.
June 9 -
The nonprofit First Step Alliance is working to launch Diverge Federal Credit Union, which plans to offer loans to cover the costs of gender affirmation surgery for individuals and adoption for same-sex couples.
June 9
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JPMorgan Chase CEO Jamie Dimon and Bank of America Vice Chairman Paul Donofrio were among the high-level executives who last year received multimillion-dollar retention payments. The awards — sometimes known as “golden handcuffs” — were driven by the most competitive job market in recent history.
June 7 -
Total direct compensation for the chief executives at large and midsize banks rose by 21.5%, up from a 5% increase in 2020, according to a new analysis. Strong earnings growth and a hot stock market were key factors.
June 2 -
CEO Bill Demchak said Thursday that the banking industry has become a "political football," and that lawmakers lack the "backbone" to make broader decisions on climate change and various social issues.
June 2 -
JPMorgan Chase CEO Jamie Dimon chastised institutional investors who follow the recommendations of proxy advisory services without doing their own homework. The comments came after the bank’s shareholders voted down pay packages for Dimon and other top executives.
June 1 -
Companies on the Best Places to Work in Fintech list offer sabbaticals or generous vacation time, which helps attract young talent and lets veteran employees re-energize.
June 1 -
Wells Fargo, Citigroup and JPMorgan Chase were among the large banks that last year experienced net losses of high-level bankers in their corporate and commercial units, according to a new report. Bankers are leaving largely for jobs at private equity and debt funds, according to the authors.
May 26 -
Bank of America is moving three months early on its most recent plan to raise its hourly base pay. “Until the labor market eases, the weight of wage growth is going to be strong,” CEO Brian Moynihan said during a CNBC interview.
May 23
