Wells Fargo CEO Tim Sloan gets 5% pay raise to $18.4 million for 2018
div > div.group > p:first-child"> The executive received $18.4 million, including a $2.4 million salary, $14 million in stock awards and $2 million in incentive awards, according to a regulatory filing. That compares to the $17.5 million he earned for 2017, which was a 36 percent increase from the previous year.
Sloan, 58, took over the fourth-biggest U.S. bank in October 2016. Last year, thanks to"widespread consumer abuses," the Federal Reserve capped the bank's asset growth after the bank found more problems with customer dealings.During a four-hour long testimony this week before the House Financial Services committee, Sloan revealed that the bank was operating under 14 separate consent decrees with his regulators. Sen.
Meanwhile, J.P. Morgan CEO Jamie Dimon received $31 million for his work last year, while Brian Moynihan of Bank of America got $26.5 million, and Morgan Stanley CEO James Gorman got $29 million.
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