JPMorgan chief Dimon gets 35% raise

GMT 09:13 2016 Friday ,22 January

Arab Today, arab today JPMorgan chief Dimon gets 35% raise

Jamie Dimon, Chairman and CEO of JPMorgan Chase
New York - AFP

Wall Street's most prominent banker, JPMorgan Chase's chief executive Jamie Dimon, is getting a 35 percent raise this year.

Dimon was given a $7 million pay hike by the bank's board of directors Thursday, boosting his compensation to $27 million.

That comprises a $1.5 million base salary, a cash bonus of $5 million and $20.5 million in stock options, according to a securities filing by the bank.

The raise came after the bank saw $24.4 billion in earnings last year, a gain of 12.5 percent.

Dimon, who carried the bank through the financial crisis more steadily than rivals but then stumbled badly with both hefty post-crisis legal costs and the massive London Whale trading loss, is hardly the best-paid banker on Wall Street.

His counterparts at Goldman Sachs, Morgan Stanley and Wells Fargo enjoy better paychecks.


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