JPMorgan boosts CEO Dimon's pay to $20 million

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Associated Press

Posted on January 24, 2014 at 2:05 PM

Updated Friday, Jan 24 at 3:02 PM

NEW YORK (AP) — JPMorgan Chase almost doubled Chairman and CEO Jamie Dimon's pay for 2013, rewarding the executive for settling probes against the bank.

The bank said on Friday that Dimon will receive total compensation of $20 million in 2013, consisting of $18.5 million in stock options and a base salary of $1.5 million.

That compares with total compensation of $11.5 million a year earlier, down from $23 million in each of the previous two years.

The bank's board says it took several factors into account when deciding on Dimon's pay, including the "sustained long-term performance" of the bank, gains in market share and customer satisfaction as well as his handling of the legal issues facing the lender.

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