“JPMorgan’s board voted this week to increase Mr. Dimon’s annual compensation for 2013, hashing out the pay package after a series of meetings that turned heated at times, according to several executives briefed on the matter. The raise — the details were not made public on Thursday — follows a move by the board last year to slash Mr. Dimon’s compensation by half, to $11.5 million.”
“When it made that deep pay cut, the board was giving a stern rebuke over the fallout from the “London Whale” multibillion-dollar trading blunder. This week, directors, gathered in a conference room at the bank’s Park Avenue headquarters overlooking a snow-covered Central Park, discussed what message their next decision on the bank chieftain’s compensation would send.”
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