Antony Currie has more than a decade of experience as a financial journalist, having worked with Euromoney since 1996, most recently as a US editor. He has worked on assignments in the major financial centres of Europe and the US and written stories on capital markets, global economies and the investment banking industry. He holds a bachelor's degree in German language and literature and a master's degree in politics and international relations from the University of Bristol. Follow Antony on Twitter @AntonyMCurrie
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JPMorgan is paying a portion of Jamie Dimon’s bonus in hard money for the first time since 2011. Goldman is boosting Lloyd Blankfein’s cash. Meanwhile, stock gains are slowing. Bank bosses still get most of their comp in shares. But the switch may suggest equity has less to offer.
The Wall Street firm was progressing nicely in the first nine months of 2014. A dismal fourth quarter, though, exposed cracks that boss James Gorman still needs to fix. Hitting a 10 pct ROE this year may be possible, but could require the Fed’s helping hand on capital return.
CFO Harvey Schwartz says the Swiss currency mess was “a 20-plus standard deviation move.” That’s a daft assessment. Predecessor David Viniar was similarly soft-headed in 2007. A bit of rhetorical flourish is fine, but not if execs look as if they don’t understand risk.
- Goldman pay ratio tells only half the story
- Volatility is the new weather for Citi and BofA
- JPMorgan augurs year of mediocrity for big banks
- Tech steering carmakers down valuation dead end
- MSCI and ValueAct both need help on activism
- Detroit's Vegas bet signals wider industry shift
- Water woes could open taps on corporate risk