The board ofJPMorgan Chase & Co.(NYSE:JPM) has approved a substantial pay raise for its CEO,Jamie Dimon, for the year 2023. This decision comes in the wake of the bank's record-breaking profits.
What Happened: Dimon's pay for 2023 has been set at $36 million, as per a regulatory filing on Thursday, reported Bloomberg. This includes a $1.5 million salary and $34.5 million in performance-based incentive compensation.
The filing also highlighted the board's appreciation for Dimon's leadership, which has steered the bank to achieve its highest-ever profit in the history of American banking. The bank's revenue...
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