JPMorgan's cluster of London millionaires diminished last year
JPMorgan released its Q1 results earlier this week, and as interesting as they were, something more interesting flew under the radar: 2025 disclosures for its main UK subsidiaries, J.P. Morgan Securities plc and J.P. Morgan Europe Limited.
Click here to join the bubble by eFinancialCareers, our new anonymous community. ✍️
The disclosures relate to the compensation and employment of material risk takers (MRTs). MRTs are employees whose “professional activities have a material impact on the risk profile of the firm,” as well as all those who earn over £660k (€756k/$871k).
There were fewer really big earners at JPMorgan in 2025 than in 2024. JPMorgan reported that it had 358 people earning over €1m across its London office in 2025, down from 371 in 2024. It had 23 people earning over €4m in 2025, down on 29 in 2024; a decrease of over 20%.
While the number of highest earners fell, pay for the more average MRT in the investment bank rose. The average pay for investment banking MRTs at JPMorgan went from $1.8m in 2024 to $2m in 2025, an 8.5% increase. This was mostly on account of bonuses - which went from $973k to $1.2m, a 20% increase. Average salaries for MRTs declined by 5%, from $840k on average to $798k, however,
JPMorgan fired exactly ten MRTs last year, They earned total severance of $3m, or $300k each on average. The implication is that none of these people were in the very highest earning pay categories. They might not even have been bankers.
Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, WhatsApp or voicemail). Telegram: @SarahButcher. Signal: sarahbutcher.22 Click here to fill in our anonymous form, or email editortips@efinancialcareers.com.
Bear with us if you leave a comment at the bottom of this article: comments are moderated intermittently by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. You must take sole responsibility for comments you post on this site. We will take reasonable steps to weed out anything that we consider to be offensive or inappropriate.
