JP Morgan has increased the level of remuneration to its staff by 21% over the past year, although it has nearly halved the compensation ratio, the level of staff pay compared to revenues, as the US investment bank kicks off the 2010 results season.

The bank, which reported a $6.9bn profit, said its payout ratio to staff has fallen from 62% in 2008 to 33% for the last 12 months.