Jan 29 (Reuters) – Wells Fargo awarded CEO Charlie Scharf $40 million in compensation for 2025, up 28% from $31.2 million a year earlier, the bank said in a filing on Thursday.
The lender’s board cited Scharf’s leadership in fixing major compliance problems and closing several major regulatory punishments, as well as rising earnings and revenue, as reasons for the CEO’s pay bump.
Scharf joins other Wall Street leaders who received bigger payouts for a banner year. Goldman Sachs CEO David Solomon’s compensation rose 21% to $47 million for 2025, while JPMorgan Chase CEO Jamie Dimon was awarded an increase of just over 10% to $43 million.
(Reporting by Pritam Biswas in Bengaluru and Lananh Nguyen in New York; Editing by Matthew Lewis)
