CEOWORLD magazine - Latest - Wealth Management - The World’s Top 10 Highest-Paid Wealth Management Executives, 2022

Wealth Management

The World’s Top 10 Highest-Paid Wealth Management Executives, 2022

James P. Gorman
James P. Gorman, Chairman and Chief Executive Officer of Morgan Stanley

Top executives in the wealth management industry received increased pay last year owing to the industry’s robust performance. CEOWORLD magazine has ranked the top 10 highest-paid wealth management executives based on their 2022 compensation. The data used for this ranking was gathered from publicly traded companies’ proxies.

In 2022, the CEOs of the top 10 firms in wealth management were paid an average of $27 million.

Although some of the numbers may appear to be high, they refer to the executives who possess considerable control over the strategic direction of the most prominent advisor forces in the industry worldwide.

Discover how the highest-paid executives of the world’s top 10 wealth management firms were compensated. Here are the top 10 wealth management executives who earn the highest salaries globally.

Here is a list of the world’s top 10 highest-paid wealth management executives.

  1. Morgan Stanley
    CEO: James Gorman
    2022 total compensation: $39,398,905
    2021: $34,941,635
    2022 vs. 2021: $4,457,270 (increase of 13%)
    Other notable executive compensation: Andy Saperstein, head of wealth management ($22,711,116)
    Median annual total compensation of all employees (other than CEO): $143,794
    CEO pay ratio: 274 to 1
    James P. Gorman was recently ranked No. 1 in a list of the world’s best CEOs for 2023; meanwhile, Morgan Stanley ranked No. 6 in the CEOWORLD magazine’s ranking of the most influential companies in the world.
  2. JPMorgan Chase
    CEO: Jamie Dimon
    2022 total compensation: $34,848,606
    2021: $84,428,145
    2022 vs. 2021: -$49,579,539 (decrease of 59%)
    Median annual total compensation of all employees (other than CEO): $88,730
    CEO pay ratio: 393 to 1
    James Dimon was recently ranked No. 35 in a list of the world’s best CEOs for 2023.
  3. Bank of America
    CEO: Brian Moynihan
    2022 total compensation: $30,177,503
    2021: $23,729,169
    2022 vs. 2021: $6,448,334 (increase of 27%)
    Brian Thomas Moynihan was recently ranked No. 52 in a list of the world’s best CEOs for 2023.
  4. Wells Fargo
    CEO: Charlie Scharf
    2022 total compensation: $24,642,526
    2021: $21,350,906
    2022 vs. 2021: $3,291,620 (increase of 13%)
    Median annual total compensation of all employees (other than CEO): $75,979
    CEO pay ratio: 324 to 1
  5. Charles Schwab
    CEO: Walt Bettinger
    2022 total compensation: $24,386,329
    2021: $21,938,404
    2022 vs. 2021: $2,447,925 (increase of 11%)
    Other notable executive compensation: Charles Schwab, co-chairman ($7,902,434)
    Median annual total compensation of all employees (other than CEO): $116,203
    CEO pay ratio: 210 to 1
  6. Ameriprise
    CEO: Jim Cracchiolo
    2022 total compensation: $22,847,623
    2021: $21,229,464
    2022 vs. 2021: $1,618,159 (increase of 8%)
    Other notable executive compensation: Joseph Sweeney, president of advice and wealth management products and service delivery ($4,863,917)
    Median annual total compensation of all employees (other than CEO): $125,033
    CEO pay ratio: 183 to 1
  7. Edward Jones
    CEO: Penny Pennington
    2022 total compensation: $21,437,004
    2021: $22,567,837
    2022 vs. 2021: -$1,130,833 (decrease of 5%)
    Other notable executive compensation: Kenneth Cella, head of branch development ($18,495,139)
    Median annual total compensation of all employees (other than CEO): $91,384
    CEO pay ratio: 235 to 1
  8. Raymond James
    CEO: Paul Reilly
    2022 total compensation: $18,059,116
    2021: $13,901,046
    2022 vs. 2021: $4,158,070 (increase of 30%)
    Other notable executive compensation: Scott Curtis, president of the Private Client Group ( $4,669,804); Tash Elwyn, CEO of Raymond James & Associates ($4,668,891)
    Median annual total compensation of all employees (other than CEO): $114,022
    CEO pay ratio: 158 to 1
  9. LPL Financial
    CEO: Dan Arnold
    2022 total compensation: $13,750,390
    2021: $12,875,868
    2022 vs. 2021: $874,522 (increase of 7%)
    Other notable executive compensation: Rich Steinmeier, divisional president of business development: ($3,313,614); Kabir Sethi, chief product officer ($3,937,416)
    Median annual total compensation of all employees (other than CEO): $94,063
    CEO pay ratio: 146 to 1
  10. UBS
    CEO: Ralph Hamers
    2022 total compensation: $13,113,755
    2021: $12,562,444
    2022 vs. 2021: $551,311 (increase of 4%)

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CEOWORLD magazine - Latest - Wealth Management - The World’s Top 10 Highest-Paid Wealth Management Executives, 2022
Sophie Ireland
SVP for News and Editorial Director. As CEOWORLD magazine's senior vice president for news and editorial director, Sophie Ireland oversees CEOWORLD magazine's journalism and journalists around the world and across platforms. She leads an award-winning team of journalists and newsroom executives who are committed to excellence, innovation and the highest quality reporting and storytelling. Follow her on Twitter, Facebook, Instagram, or connect on LinkedIn. Email her at sophie@ceoworld.biz.