Following a year including record profits, a major data breach and massive legal expenses, the CEO of America’s largest bank is slated to receive a pay package for 2014 similar to the previous year.
Following a year of record profits for JP Morgan Chase & Co., CEO Jamie Dimon is slated to receive a pay package for 2014 similar to the previous year.
Dimon is expected to receive around $20 million in total compensation after a year filled with legal expense and a major cyberattack, according to the Wall Street Journal. Although the amount is the same as 2013, the structure of the package is different.
In 2013, Dimon received a package of $20 million, comprising $18.5 million in restricted stock units and $1.5 million in salary. He took a pay cut in 2012 to $11.5 million when JP Morgan suffered roughly $6 billion in trading losses from its “London Whale” scandal.
In 2011 and 2010, Dimon received $23 million in total compensation for each year.
JP Morgan’s net income for 2014 was a record $21.8 billion, compared with $17.9 billion in the prior year. The bank had legal fees of $990 million in the fourth quarter of 2014.
Dimon is expected to receive around $20 million in total compensation after a year filled with legal expense and a major cyberattack, according to the Wall Street Journal. Although the amount is the same as 2013, the structure of the package is different.
In 2013, Dimon received a package of $20 million, comprising $18.5 million in restricted stock units and $1.5 million in salary. He took a pay cut in 2012 to $11.5 million when JP Morgan suffered roughly $6 billion in trading losses from its “London Whale” scandal.
In 2011 and 2010, Dimon received $23 million in total compensation for each year.
JP Morgan’s net income for 2014 was a record $21.8 billion, compared with $17.9 billion in the prior year. The bank had legal fees of $990 million in the fourth quarter of 2014.
