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April 10, 2014

JP Morgan Awarded CEO Jamie Dimon $11.8M Last Year

“JPMorgan Chase & Co. Chairman and CEO Jamie Dimon’s total compensation fell 37 percent last year to $11.8 million as the nation’s largest investment bank grappled with billions in legal costs and fines.

“Dimon’s total compensation fell from $18.7 million in 2012, according to regulatory documents filed by the bank Wednesday.

“JPMorgan’s committee on executive compensation noted in the filing that it adjusted all of the top company officers’ pay levels to account for the impact the fines and settlements had on the lender’s financial results.

“Last year, JP Morgan was hit legal costs and fines stemming from the housing crisis and its $6 billion “London Whale” trading loss. The financial hurdles contributed to a 16 percent decline in net income for the year.”

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Read full Associated Press article here.

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