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Jamie Dimon, chairman and CEO of JPMorgan Chase & Co , will be paid USD 20 million for his work in 2013, restoring most of the USD 11.5 million cut directors imposed a year earlier following the company's embarrassing derivatives loss.
Here are some of the most colourful quotes and facts revealed in the transatlantic regulators' documents, which highlight "deficiencies in the bank holding company's oversight, management, and controls governing its Chief Investment Office.
Settlements with four US and British regulators, made public on Thursday, resolve the biggest civil probes of the bank's USD 6.2 billion of derivatives trading losses last year.
A settlement would mark a key step in JPMorgan's efforts to resolve its regulatory and legal troubles.
Amid increasing concern in Washington that some banks are "too big to manage", the JPMorgan chief executive told staff that getting rid of non-core business units, especially those with legal or regulatory risks, was a "key initiative".
Completion of the deal depends on coordinating agreements with multiple government agencies, the source said.
The global settlement talks are expected to address events surrounding the losses JPMorgan incurred when London-based traders in the bank's chief investment office amassed an oversized stake in an illiquid derivatives market, building positions so big they earned one trader, Bruno Iksil, the nickname "the London Whale."
US authorities are considering to arrest two key officials from JPMorgan Chase and coompany for their role in masking the losses of USD 6.2 billion.
In the past few days, major global banks have taken the axe to pay with unusual zeal.
JPMorgan Chase & Co has sold an estimated USD 25 billion of profitable securities in an effort to prop up earnings after suffering trading losses tied to the bank's now-infamous "London Whale," compounding the cost of those trades.
