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

  • Share
  • Read Later
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.