Dimon narrowly the best-paid bank CEO
J.P. Morgan Chase & Co. (JPM) CEO Jamie Dimon's pay fell to $11.8 million in 2013, compared with $18.7 million the year before, according to a Securities and Exchanges Commission filing on Wednesday.
The CEO received a base annual salary of $1.5 million, stock awards valued at $10 million, and other compensation, according to SEC methodology.
Dimon's pay was cut by the firm's board after the massive London Whale losses that cost the firm more than $6 billion. The firm's CFO Marianne Lake earned $8.23 million last year, which includes $730,000, as well as a $1.3 million bonus and more than $4 million in stocks awards and options. Former co-CEO of the investment bank who recently left the firm, Michael J. Cavanagh, earned $16.2 million in 2013.
Mr. Dimon's pay is higher than that awarded to other CEOs of giant banks. Bank of America's Brian Moynihan was paid $13.1 million last year, Citigroup's Michael Corbat got $17.6 million, Morgan Stanley's James Gorman got $18 million and Goldman Sachs' Lloyd Blankfein $19,928,813. That means Mr. Dimon got paid $71,187 more than Mr. Blankfein, although the cash component of Mr. Blankfein's pay was $6.8 million higher.
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