JPMorgan Chase paid investment bankers and traders about 3
percent less in 2012 as shaky economies in the U.S. and Europe put a damper on
deals, said two people with knowledge of the firm’s compensation.
Portfolio managers and other executives in asset management
received an average 6 percent increase in salary and bonuses, according to two
other people briefed on pay at New York-based JPMorgan, the largest U.S. lender
by assets.
Senior investment bankers and traders had braced for steeper
reductions exceeding 10 percent, one person said, after global deals slid 13
percent to $2.67 trillion in 2012. Net income at JPMorgan’s investment bank for
the first nine months of 2012, before it was merged with the corporate bank and
treasury services divisions, dropped 15 percent to $5.2 billion….
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