2026년 2월 18일 · Unknown · financial · 출처 Yahoo Finance
CEOS from the biggest banks — JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), Morgan Stanley (MS), and Goldman Sachs (GS) — all earned at least $40 million in 2025, their total pay increases rising by $45.3 million.
Yahoo Finance Senior Bank Reporter David Hollerith examines these pay increases reported by major bank executives as the Trump administration lifted banking regulations last year.
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Video Transcript
00:00 Josh
So David, let's start here. So big bank CEO pay, in your very good article, you know, it surges by $45 million in 2025. Maybe start there, high level. What drove that? Was that is that performance, David? Is that stock prices? What's going on?
00:19 David
So Josh, it's a little bit of a mix of all that. So you could say financial and non-financial targets, stock price, earnings performance, and also just these CEOs achieving whatever uh strategic targets they set out to do. Um and compensation is typically decided by the board, specifically the board's HR uh compensation group committee. Um and they vary between all these banks. But uh really the story here is how good of a year 2025 was for uh Wall Street's biggest banks.
01:05 Josh
Let's talk about some individual names. Let's let's put some faces to this David. So Morgan Stanley's Ted Pick, you point out. Now he saw the biggest drop among rivals, 32% to 45 million for Mr. Pick. Only behind Goldman's David Solomon for the highest annual pay by the way. Then here comes Charlie Sharf over at Wells Fargo. Annual comp for Charlie, that jumped 28% from to 40 million. What explains that one by the way?
01:41 David
Yeah, right. So uh Pick, for Pick it was his second year as CEO. Um so you can kind of think of his compensation as as starting to a lower point in the group. Um and then it gets back to what happened last year. The biggest story uh along with deregulatory moves by the Trump administration on on bank regulation was really Wall Street firing on all cylinders in an environment that's honestly kind of unusual where trading has a lot of volatility and it's positive volatility because the stock market ends up going higher through the year. Then on top of that, it's a it's a good environment for deal making. So Ted Pick really benefited from that. And you also noticed that Goldman Sachs CEO David Solomon, although he didn't have the biggest increase, he had the highest overall total compensation. And then for Scharf, it was more of a story of the regulatory restrictions that were lifted on the bank last year. Wells Fargo for six and a half years was dealing with a pretty onerous growth restriction and regulators loosened that that um over the summer. Um and in addition to that, under Scharf's watch, uh the bank uh has has had regula- the regulators have lifted um a number of consent orders related to those restrictions. Um so this has been a very tough um move to transform the bank, a turnaround effort if you will, that Scharf really saw um, you know, I guess they don't call it this, but you can call it a light switch moment for the bank where they can actually start to grow their balance sheet. And Wells Fargo actually was able to take some market share gains in investment banking last year and that was another huge priority for them.
03:52 Josh
This year, David, I'll end here. The with the exception of Goldman, big bank stocks are down, right? But when you listen to the CEOs that you've been talking about here, they're still positive, right? They're still constructive when they talk about 2026.
04:11 David
Right. So uh to the extent that uh we haven't we heard from all these CEOs last month. Um things have sort of changed at least in the stock market in the last two or three weeks. Um but we did hear from uh Brian Moynihan, Bank of America CEO and David Solomon, CEO of Goldman, um last week at different financial services conferences. and both of them kind of tipped their hat to continued optimism for what looks like a a good year another good year for deal making. And investment banking is really one of the details, one of the variables here that defines how good uh these banks' earnings are going to be. Um one interesting thing that Solomon did point to is that he highlighted how how how good the environment looks for M&A and also the possibility for some large scale IPOs to come later in the year. But he also pointed out that there could be um some recalibration similar to what was seen last year in April. He didn't say it but you know, that's the period um where there's a huge pause in the deal market. um largely as companies were trying to grasp with what it meant with uh the sweeping tariff roll out. So, you know, factoring in that a lot could happen as as did last year. Um all these uh CEOs sound or at least the ones we've heard from so far sound pretty optimistic about what the pipeline looks like.
06:04 Josh
Alright, it's a great story by you, David, appreciate it. Thank you.
06:07 David
Thank you.
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