Ex-JPMorgan boss to receive bumper pay at cable company

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Comcast Corp. awarded its new chief financial officer Michael Cavanagh, a former top JPMorgan banker, a pay package worth $29.7m to join the largest U.S. cable company.

Bloomberg News reports that Cavanagh, 49, was hired by Comcast after spending less than a year at private equity firm Carlyle Group, where he was recruited to be co-president.

He previously served as a close deputy to JPMorgan CEO Jamie Dimon for more than two decades.

His compensation at Comcast includes a $10m restricted-stock signing bonus and another stock award of $2.5m, both based on performance. He’s also getting a $10m contribution to the company’s deferred compensation plan and a $1.8m salary, according to a filing Monday. Cavanagh is eligible to receive a cash bonus of three times his base salary, or $5.4m.

To access the complete Bloomberg News article hit the link below:

Comcast’s New CFO Cavanagh Awarded $29.7 Million Pay Package

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