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Wells Fargo CEO receives 5% raise in 2018 compensation

Wells Fargo & Co. President and CEO Timothy Sloan's compensation rose by approximately 5% to $18.4 million in 2018, compared to the total calculated compensation of $17.6 million in 2017.

Sloan earned a base salary of $2.4 million, stock awards of $14.0 million and non-equity incentive compensation of $2 million in 2018, according to a regulatory filing.

The disclosure came a day after Sloan's testimony before the House Financial Services Committee where he defended his bank's reform efforts even as some lawmakers remained unconvinced.

Earlier in 2019, Bank of America Corp. disclosed that Chairman and CEO Brian Moynihan's total compensation for 2018 was $26.5 million, up more than 15% from the prior year's $23.0 million, and JPMorgan Chase & Co. CEO Jamie Dimon received a more than 5% raise in his 2018 compensation to $31 million. Citigroup Inc. CEO Michael Corbat received a total compensation package valued at $24 million in 2018, up 4% from 2017.