Wells Fargo CEO Charles Scharf's total compensation last year was US$24.5 million (approximately NT$740 million), the same as the previous year.

(Reuters)

[Financial Channel/Comprehensive Report] Wells Fargo (WFC) CEO Charles Scharf's total salary last year was US$24.5 million (approximately NT$740 million), which was the same as the previous year.

According to a document released by Wells Fargo on Thursday (26th), the total remuneration of the bank's chief executive Schaff in 2022 will be US$24.5 million, including a US$2.5 million salary and US$22 million in incentives.

Wells Fargo's board expressed strong confidence in Schaff's transformation and leadership, according to the release.

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Wells Fargo had net income of $13.2 billion last year, down 39% from the previous year.

Performance has been impacted by the company's ongoing legal and regulatory issues, which remain under the asset cap imposed by the Federal Reserve.

Also, Wells Fargo shares are down 13.9% in 2022.

JPMorgan Chase & Co. kept CEO Jamie Dimon's salary at $34.5 million last year compared to peers.

Morgan Stanley cut CEO James Gorman's salary by 10% to $31.5 million in 2022.

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