JPMorgan CEO 'received 51% raise'

8 April 2011

The chief executive officer (CEO) at JPMorgan Chase received a 51 per cent raise in 2010, it has been revealed.

Jamie Dimon was handed a $23 million compensation package after the bank resumed paying monetary bonuses - making him the highest paid man in such a position among the top US banks since 2007.

The move came after two years of pressure, in which lawmakers and regulators sought to limit compensation.

Other CEOs to receive substantial handouts included Lloyd Blankfein of Goldman Sachs Group - who pocketed $19 million - and head of Wells Fargo John Stumpf ($17.5 million).

Included in Mr Dimon's sum was a $5 million cash bonus, while his restricted stock payout was elevated to $17 million - an increase of 20 per cent.

Bloomberg News recently reported that Mr Blankfein received a $5.4 million bonus as part of his compensation package from Goldman Sachs last year.

By Gary Cooper

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