JPMorgan raises CEO Jamie Dimon's pay 74%, to $20 million

[unhappycamper]

http://www.latimes.com/business/la-fi-dimon-pay-raise-20140124,0,6830679.story

JPMorgan raises CEO Jamie Dimon's pay 74%, to $20 million
Bloomberg News
January 24, 2014, 4:36 p.m.

JPMorgan Chase & Co. gave Chief Executive Jamie Dimon a 74% raise to $20 million last year, bringing his pay closer to where it stood before the board faulted his oversight of botched derivatives bets.

Dimon, who also serves as chairman, received $18.5 million in restricted stock, the New York lender said Friday in a regulatory filing. His salary was unchanged at $1.5 million, and he got no cash bonus, according to the filing.

Board members kept Dimon's pay below prior years after JPMorgan was beset by regulatory and criminal probes that cost the bank more than $23 billion in settlements last year. The directors had cut his package in half last January to $11.5 million after faulting his oversight of derivatives trading in the "London Whale" episode.

In raising Dimon's pay, the board of directors cited "sustained long-term performance; gains in market share and customer satisfaction; and the regulatory issues the company has faced and the steps the company has taken to resolve those issues," according to the filing.

[Doctor_J]

1. I guess Dimon will take care of the caddies' tips next time he & the president play golf

[OrwellwasRight]

2. More evidence that the very ultra rich earn everything they have.