After Losing Billions, JPMorgan Chase Gives CEO Jamie Dimon a Raise

After heated meeting, board decides to reward Jamie Dimon for stewardship during tough times

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Yuri Gripas / Reuters

After paying approximately $20 billion in fines to federal authorities over the past year, JP Morgan Chase’s board voted to give their chairman and chief executive Jamie Dimon a raise.

The debate, taking place in a conference room overlooking a snow-covered Central Park, became heated at times, but was finally settled in favor of those who argued that Dimon had proved a good steward through these shaky times.

The raise comes a year after Dimon’s salary was slashed in half, following the “London Whale” debacle, during which the bank made a multibillion-dollar loss. Over that period, the company has generated strong profits, and its stock price has increased more than 22 percent.


Chiadam joined the fray recommending this pay increase as unwarranted and pointing out that the Board has lost its independence and ability to govern the CEO+Chairman effectively