JPMorgan chief receives 35% pay rise

Jamie Dimon

JPMorgan Chase paid Jamie Dimon, its chairman and chief executive, 35% more in 2015 than the previous year’s compensation package, which was only narrowly approved by shareholders.

The New York Times reports that according to a securities filing on Thursday, Dimon received $27m — much of it in stock linked to the bank’s performance, one week after the bank recorded a record profit of $24.4bn for the year.

Pay disclosures by Wall Street firms are closely watched, as many banks face pressure from shareholders to overhaul pay practices. That has caused many banks to shift more pay to stock that will be granted only if the company meets certain performance goals.

JPMorgan is the first big bank to disclose 2015 compensation for its top executives. The annual disclosure about Dimon, who runs the biggest bank in the United States in terms of assets, often sets the bar for the industry.

To access the complete New York Times article hit the link below:

Jamie Dimon’s Compensation Rises 35%, to $27 Million

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