Pay
Jamie Dimon Boosts JPMorgan Wealth Advisers’ Pay From Windsor Castle
- Move comes amid pressure on Wall Street to fend off poaching
- ‘We are making this the best place to build your practice’
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Jamie Dimon had a pair of surprises when he dialed into a conference call with a group of JPMorgan Chase & Co.’s wealth advisers: He was at Windsor Castle, and oh, he’s boosting their compensation.
The largest U.S. bank is revamping its 20-year-old pay structure for J.P. Morgan Advisors, a traditional broker business that a few months ago said it aims to double headcount to about 1,000. The chief executive officer informed staff the new system is coming, before a meeting with the Queen, according to people with knowledge of the conversation. The changes aim to encourage advisers to stick with the bank.