Dimon Gets 74 Percent Raise After Billions in Fines

Dimon Gets 74 Percent Raise After Billions in Fines

from Business Week:

After agreeing to pay $23 billion in penalties and settlements in 2013, JPMorgan Chase (JPM) Chief Executive Jamie Dimon was rewarded today by the board he chairs, receiving a 74 percent pay raise to $20 million.

Dimon has presided over a series of costly settlements with government investigators, including paying $13 billion for mortgage activity that helped lead to the financial crisis and $2 billion for failing to do anything about signs that client Bernie Madoff was running a Ponzi scheme. But in the amoral logic of the stock market, each payout has been met with gains in the company’s stock price, as investors see one fewer uncertainty looming over future profits.

Here’s a key point: That stock performance matters more to Dimon than headline pay figures. He’s sitting on a third of a billion dollars in JPMorgan shares.

Read More @ BusinessWeek.com

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