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A year after an embarrassing trading blowup led to millions of dollars being docked from Jamie Dimon’s paycheck, the chairman and chief executive of JPMorgan Chase is getting a raise.
JPMorgan’s board voted this week to increase Dimon’s annual compensation for 2013, hashing out the pay package after a series of meetings that turned heated at times, according to several executives briefed on the matter. The raise — the details were not made public Thursday — follows a move by the board last year to slash Dimon’s compensation by half, to $11.5 million.
When it made that pay cut, the board was giving a rebuke over the fallout from the “London Whale” trading blunder. This week, directors discussed what message their next decision on Dimon’s compensation would send.