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Jamie Dimon- JPMorgan CEO gets 74 percent raise

Jamie Dimon- JPMorgan CEO gets 74 percent raise … in salary

Yes, 74 percent raise is a 74% hike. You got it correct !!!

JPMorgan CEO gets 74 percent raise

JPMorgan CEO gets 74 percent raise

Jamie Dimon will do no wrong — a minimum of within the eyes of his board of directors.

Even though JPMorgan Chase two-handed the govt. quite $20 billion to settle Associate in Nursing array of charges in 2013, the board of administrators still raised the chief executive’s pay by seventy four %, in line with a restrictive filing discharged weekday.
The board voted to award Dimon $18.5 million in restricted stock which will vest over following 3 years. not to mention his base wage of $1.5 million, that remained unchanged from the previous year, Dimon’s total compensation last year was $20 million.

That’s up from $11.5 million in 2012, a year during which the board halved Dimon’s compensation as a reprimand for the $6.2 billion mercantilism debacle referred to as the “London Whale.”

Fallout from the mercantilism losses culminated in $1.9 billion in fines paid by the bank to U.S. and British authorities last year. It sparked a investor select could on whether or not Dimon ought to stay chairman and chief executive: solely thirty two % of investors voted to strip Dimon of the twin title.

Now the board has cemented that vote of confidence that Dimon is equally the leader he was once he steered the bank through the money crisis. however plenty has modified since then.

In October, the bank suffered its 1st loss in nearly a decade, coverage a web loss of $380 million once setting aside a further $9.2 billion for future proceeding expenses. a number of that cash was earmarked to settle restrictive investigations into the bank’s mortgage securities business.

Those probes came to a head in Nov, once JPMorgan in agreement to pay the govt. $13 billion to resolve allegations that the bank wittingly oversubscribed faulty mortgage securities that contributed to the money crisis. The settlement earned JPMorgan the dubious distinction of paying the biggest penalty ever dealt to one company.

Yet the settlement, and therefore the slew of others that proceeded it, brought JPMorgan nearer to putt to rest its mountain of legal woes. And for that, the board aforesaid it absolutely was grateful.

One of the factors the board took under consideration in crucial Dimon’s compensation was the “steps the corporate has taken to resolve” the “regulatory problems the corporate has moon-faced,” in line with the filing. The bank aforesaid members of the board additionally thought of JPMorgan’s “sustained semipermanent performance,” similarly as “gains in market share.”

Indeed, JPMorgan’s stock worth soared thirty three % to $58.48 in 2013, beating the gains of the quality & Poor’s five hundred index, that climbed nearly thirty %.

“Stock worth isn’t the correct activity for evaluating misbr conduct of an organization,” aforesaid Dennis Kelleher, chief government of higher Markets, that advocates for money reform. “A company might interact in large misbr conduct, which might be terribly rewardable for the corporate and smart for its stockholders. And that’s what we’ve seen here.”

Profits at JPMorgan, meanwhile, tumbled sixteen % to $17.9 billion last year, down from $21.3 billion within the previous year. Supporters of the bank say its earnings failed to tell the complete story.

“The earnings of JPMorgan failed to fall from in operation sources,”said banking analyst Dick Bove of Rafferty Capital. “It went down due to fines and proceeding. and therefore the fines and proceeding weren’t related to actions [Dimon] took.”

Forgive my english grammar or other mistakes. Thank you.

https://rbroy01.wordpress.com

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Forgive my english grammar or other mistakes. Thank you.

https://rbroy01.wordpress.com

Check out my other charts on Nifty and “Best stocks to buy
SBI chart – Best stocks to buy :
SGX Nifty – best stocks to buy :
Reliance Industries: Best stocks to buy :
JP Associates : Best stocks to buy :
NSEIndia, BseIndia, Market Daily Market Pulse – S&P CNX Nifty
Nifty Buy or Sell, Options, derivatives, NSE, charts, profits : Best stocks to buy
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