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06/05/2021

WHO’S GETTING WHAT? (James Gorman, JPMorgan, Cineworld)

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James Gorman

Morgan Stanley chief executive James Gorman was the best-paid boss of a major American bank last year, says Bloomberg. Gorman’s pay rose by 22% to $33m during 12 months in which the bank posted its third consecutive year of record earnings. His pay includes $1.5m in salary and a $7.9m bonus.

JPMorgan

JPMorgan Chase’s Jamie Dimon, 2019’s best-paid US bank boss. Saw his pay remain at $31.5m for 2020, despite warning that income inequality has “bifurcated the economy” in America, says The Guardian. According to a regulatory filing, Dimon’s pay was made up of $1.5m in salary, a $5m cash bonus, and $25m of restricted stock tied to performance. While Dimon has foregone a pay rise, JPMorgan Chase enjoyed stellar growth” last year.

Cineworld

The cinema chain that the pandemic has severely hit faced shareholder rebellion this week over a proposed bonus scheme that could award its chief executive, Mooky Greidinger, up to £65m, says the Financial Times. Greidinger, together with his brother, Israel, Cineworld’s deputy chief executive, would be in line to receive stock-based awards of up to 1.25% of its issued shares on meeting certain targets. The targets start at a share price of E1.30, the price at which the shares were trading last March.

Nice work if you can get it!


David and Victoria Beckham have paid themselves £21.6m from their sports and media businesses since 2019 despite continued heavy losses at the former Spice Girl’s fashion business, says Daniel Thomas for BBC News. According to the latest accounts, losses at Victoria Beckham Holdings (VBHL) widened to £16.6m in 2019, following a loss of £12.5m the previous year. It marks the seventh straight year that the brand has been in the red since it was founded in 2008. As the pandemic “hammered the business” last April, VBHL had to borrow £9.2m from shareholders to repay an outstanding bank loan to HSBC after breaking debt covenants. Meanwhile, profit at David Beckham Ventures Limited (DBVL), the brand management firm owned by the former footballer and his wife, fell £3.5m to £11.3m in 2019. Together, the couple took £14.5m in dividends in 2019 and a further £7.1m last year.

Source: moneyweek.com

Kris Paterson is a writer for www.whatjobs.com the global job search engine

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