First bonus numbers in - JPMorgan reports

Money On Hook

What happened to the bonus pot ?

JPMorgan’s corporate and investment bank set aside 3.6% less to pay employees last year as revenue shrank.

Bloomberg News reports that the division had $10.4bn in compensation expenses in 2014, enough to pay its 51,129 employees an average of $204,365 apiece, according to figures posted today on the firm’s website. The bonus pool amounted to $207,368 per person a year ago. Revenue at the business fell 0.4% to $34.6bn.

Bloomberg also report that JPMorgan Chase said Wednesday that fourth-quarter profit fell 6.6% as fixed-income trading revenue dropped 23% and legal costs were about twice as high as some analysts estimated. Net income declined to $4.93 billion from $5.28 billion a year earlier.

Chief Financial Officer Marianne Lake said there’s no reason to undertake 'major surgery' on the company, which benefits from its size.

JPMorgan Shrinks Investment-Bank Compensation Pool 3.6%

JPMorgan Fourth-Quarter Profit Drops 6.6% on Trading Slump

JPMorgan CFO Says There’s No Reason for ‘Major Surgery’ on Bank

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts