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JPMorgan chief Dimon gets 35% raise

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Wall Street's most prominent banker, JPMorgan Chase's chief executive Jamie Dimon, is getting a 35 per cent raise this year.

[NEW YORK] Wall Street's most prominent banker, JPMorgan Chase's chief executive Jamie Dimon, is getting a 35 per cent raise this year.

Mr Dimon was given a US$7 million pay hike by the bank's board of directors Thursday, boosting his compensation to US$27 million.

That comprises a US$1.5 million base salary, a cash bonus of US$5 million and US$20.5 million in stock options, according to a securities filing by the bank.

The raise came after the bank saw US$24.4 billion in earnings last year, a gain of 12.5 per cent.

Dimon, who carried the bank through the financial crisis more steadily than rivals but then stumbled badly with both hefty post-crisis legal costs and the massive London Whale trading loss, is hardly the best-paid banker on Wall Street.

His counterparts at Goldman Sachs, Morgan Stanley and Wells Fargo enjoy better paychecks.

AFP

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