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JPMorgan Chase Boosts Execs' Compensation:Posted By: William "Bill" Buckington NEW YORK - JPMorgan Chase & Co., the nation's third largest bank, raised the compensation for its top executives in 2005, giving them bigger bonuses and large stock awards.A filing with the Securities and Exchange Commission said that the bank's chairman, William B. Harrison Jr., received $22.3 million in compensation last year. That included $1 million in salary, $8.4 million in bonus pay, $12.6 million in restricted stock awards and $338,815 for company-paid services, such as personal use of company aircraft. In 2004, his compensation was $16.05 million. James Dimon, president and chief executive, was awarded identical salary, bonus and stock awards as Harrison and received $295,516 in company-paid services. The New York-based bank said in its filing that Harrison and Dimon "use company aircraft and automobiles whenever feasible for all business and personal travel as a security measure." Dimon had been the chairman and CEO of Bank One before the Chicago-based bank merged with JPMorgan Chase in 2004. Dimon still has a home in Chicago. Other highly compensated JPMorgan Chase executives were Steven D. Black and William T. Winters, co-chief executive officers of the investment bank, at more than $18 million, and Charles W. Scharf, chief executive of retail financial services, $13.1 million. Earlier in March, Citigroup Inc., the nation's largest financial institution, disclosed in its SEC filing that it paid its CEO, Charles Prince, $23 million in 2005. Sanford I. Weill, Citigroup's chairman who is to retire in April, earned $21.5 million last year, Citigroup told the SEC. Citigroup also is headquartered in New York. ___ On the Net: http://www.jpmorganchase.com Courtesy Of: Yahoo! News The information reported above is property of Yahoo! inc. and reprinted or modified with legitimate permission. We thank Yahoo! inc. for the kind cooperation with us and other shareholders. |
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