NEW YORK: JPMorgan’s board voted to raise chief executive Jamie Dimon’s (pic) annual compensation for 2013, a turnaround from last year when it slashed his compensation by half in light of a trading debacle, the New York Times reported.
A series of meetings to formulate the pay package turned heated at times, with vocal minority of directors wanting to keep Dimon’s compensation largely flat, citing about US$20bil in fines the bank paid in the last year to federal authorities, the paper said, citing several executives briefed on the matter.
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