Policy: Economy

JPMorgan awarded CEO Jamie Dimon $11.8M last year

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News,Business,Economy,JPMorgan

LOS ANGELES (AP) — JPMorgan Chase & Co. Chairman and CEO Jamie Dimon's total compensation fell 37 percent last year to $11.8 million as the nation's largest investment bank grappled with billions in legal costs and fines.

According to regulatory documents filed Wednesday, Dimon's total compensation fell from $18.7 million in 2012

JPMorgan's committee on executive compensation noted in the regulatory filing that it adjusted all of the top company officers' pay levels to account for the impact the fines and settlements had on the lender's financial results.

Last year, JP Morgan was hit legal costs and fines stemming from the housing crisis and its $6 billion "London Whale" trading loss.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.

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