JP Morgan to raise Dimon's pay to $20 million

Compensation for the US bank's CEO to jump 74%

After a year in which JP Morgan Chase agreed to more than $20 billion in legal payouts and posted its first quarterly loss since the financial crisis, chief executive James Dimon received a 74% jump in compensation.

The increase brought Dimon's pay for 2013 to $20 million from the $11.5 million he pulled in for 2012. The board that year cut Dimon's pay in half due to a trading fiasco that cost the bank billions, saying that he had "ultimate responsibility for the failures that led to the losses."

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