FILE PHOTO: A sign outside the headquarters of JP Morgan Chase & Co in New York, September 19, 2013. REUTERS/Mike Segar/File Photo
JPMorgan, which also operates a vast retail network, may increase its total bonus pool by about 3 per cent. REUTERS

JPMorgan to increase bonuses for bankers and traders



JPMorgan Chase & Co plans to increase annual bonuses at its corporate and investment bank, as a growing number of Wall Street firms share proceeds from a busy year, according to a person briefed on the decision.

Average percentage increases will be in the mid-single digits, with equities traders and investment bankers probably getting more than that, the person said. The division accounts for about a third of the firm’s revenue.

Compensation consultant Johnson Associates Inc had predicted in November that Wall Street equities traders will reap the biggest bonus increases as their counterparts on fixed-income desks potentially get less. Bankers who advise on mergers and acquisitions were expected to see their payouts cut by as much as 5 percent, according to Mr Johnson. Yet, people familiar with Morgan Stanley’s plans said last month it was planning increases for both traders and bankers.

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JPMorgan's stock traders generated $5.571 billion of revenue in last year's first nine months, 22 per cent more than a year earlier, according to data compiled by Bloomberg. Revenue from investment banking increased by 2.5 per cent.

Dealmakers are bracing for a slowdown in 2019, predicting that stormy equity markets, political uncertainty and weakening economic conditions could cool a five-year boom in transactions.

JPMorgan reports fourth-quarter earnings on Tuesday. Reuters reported earlier Thursday that the bank, which also operates a vast retail network, may increase its total bonus pool by about 3 per cent.

EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE

Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

Source: Emirates

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

The biog

Occupation: Key marker and auto electrician

Hometown: Ghazala, Syria

Date of arrival in Abu Dhabi: May 15, 1978

Family: 11 siblings, a wife, three sons and one daughter

Favourite place in UAE: Abu Dhabi

Favourite hobby: I like to do a mix of things, like listening to poetry for example.

Favourite Syrian artist: Sabah Fakhri, a tenor from Aleppo

Favourite food: fresh fish

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

Match info

Karnataka Tuskers 110-3

J Charles 35, M Pretorius 1-19, Z Khan 0-16

Deccan Gladiators 111-5 in 8.3 overs

K Pollard 45*, S Zadran 2-18


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