The chief executive officer (CEO) of JPMorgan Chase received a remuneration package worth $23 million for his work in 2011, new figures have shown.
Jamie Dimon was paid a bonus of $4.5 million on top of his $1.4 million salary, as well as stock awards and options with a total worth of around $17 million, the bank revealed yesterday (4 April).
This represents an 11 per cent increase on the senior official's award one year previously.
However, according to the board of JPMorgan - a firm with $2.3 trillion of assets under management - Mr Dimon earned this payment on the basis that the financier experienced a record income of $19 billion in 2011
Nevertheless, within a letter sent to the bank's shareholders, the CEO expressed his relative disappointment with this performance because, he believes, high costs in the mortgage arena prevented the company from earning up to $24 billion.
He went on to say that the banking industry is still dealing with a high level of "hostility" from the public in the aftermath of the recession.
By Claire Archer