Investment Banking

JPMorgan’s Petno says bonuses will rise as trading and dealmaking surge

The co-CEO of JPMorgan’s commercial and investment bank expects dealmaking revenue to increase again in the third quarter

A stronger trading environment is likely to boost pay at banks
A stronger trading environment is likely to boost pay at banks Photo: ullstein bild/Getty Images

JPMorgan is set to increase bonuses this year after “outsized performance” from its dealmakers and traders.

Doug Petno, co-chief executive of JPMorgan’s commercial and investment bank, said that compensation costs were likely to increase in 2025 as both dealmaking and trading revenue have surged.

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110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the Brink