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JPMorgan Chase Gives CEO 74 Percent Pay Raise

  • VOA News

FILE - JPMorgan Chase Chairman, President and Chief Executive Officer Jamie Dimon, Department of Justice, Washington, Sept. 2013.
The chief executive of the biggest U.S. bank received a huge salary increase last year, even as the bank paid billions of dollars in fines for financial irregularities it committed.
JPMorgan Chase said Friday it paid its top official, Jamie Dimon, $20 million last year, up 74 percent from his $11.5 million salary for 2012.
The New York bank's board had cut Dimon's salary in half a year ago as the financial institution faced a range of disputes with U.S. and overseas financial regulators. In the last year, the bank has paid more than $23 billion to settle the regulatory and criminal investigations.
In boosting his pay, the bank cited Dimon's settling of the cases, as well as his "sustained long-term performance."