JPMorgan Chase announces record annual profit, raises CEO pay to $36 million

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JPMorgan Chase announces record annual profit, raises CEO pay to $36 million
Credit: © Reuters.

NEW YORK - JPMorgan Chase (NYSE: JPM ), one of the leading global financial services firms, has announced an all-time high annual profit of $49.6 billion for the year 2023. In light of the company's financial success, the bank has also raised the compensation of its CEO, Jamie Dimon, to $36 million.

The increase in Dimon's pay package is a testament to his leadership, which has been instrumental in the bank's recent achievements. This includes the strategic acquisition of First Republic and the effective navigation through regional bank turmoil.

Dimon's new compensation structure comprises a base salary of $1.5 million, performance share units worth $29.5 million, and cash bonuses totaling $5 million.

JPMorgan's record profit and the decision to increase Dimon's pay reflect the bank's strong performance under his leadership. The compensation adjustment is seen as a reward for his pivotal role in the company's strategic decisions and overall success.

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