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Job-Hopping on Wall Street Speeds Up With Eight-Figure Packages

Nov. 11, 2021, 1:00 PM

The trading desk was just embarking on a second banner year when senior executives started defecting to the likes of Bank of America Corp., Citigroup Inc. and Millennium Management. By this fall, many of the team’s heaviest hitters had gone.

The setting wasn’t some struggling investment bank. It was the equity derivatives desk inside the mighty JPMorgan Chase & Co. -- one of many pockets of employee turnover that have erupted there in recent months, keeping the company’s recruiters busy. Pan out, and it’s part of a trend sweeping across Manhattan’s financial industry.

Signs of a surge in Wall ...