NYC COMPTROLLER LIU SAYS JPMORGAN SENT RIGHT MESSAGE ON CEO PAY

(The following is a reformatted version of a statement
issued by the New York City Comptroller’s Office and received
via electronic mail. The release was confirmed by the sender.) 
January 16, 2013 
******************************************
LIU STATEMENT ON JPMORGAN CHASE’S 
CUTS TO CEO’S PAY
****************************************** 
NEW YORK, N.Y. - NYC Comptroller John C. Liu today made the
following statement in response to JPMorgan Chase’s decision to
reduce by 50% the compensation of CEO James Dimon on the grounds
that he bears ultimate responsibility for trading losses related
to the so-called “London Whale”: 
“It sends the right message - that executives at the highest
level will be held financially accountable for conduct that
harms the company,” Comptroller Liu said. “We’re heartened that
JPMorgan understands the need to align the interests of its
executives with those of its long-term shareowners, and we will
continue to press for reforms that will prevent future reckless
risk-taking.” 
New York City Comptroller John C. Liu serves as the investment
advisor to, custodian, and a trustee of the New York City
Pension Funds. The NYC Pension Funds held 9,546,164 shares of
JPMorgan Chase, valued at $442,464,701.40 as of Tuesday, January
15, 2013. 
Visit www.comptroller.nyc.gov for the latest news, events and
initiatives. 
Follow Comptroller Liu on Twitter at
http://twitter.com/johncliu, and on YouTube at
http://www.youtube.com/user/ComptrollersOffice 
Contact: Matthew Sweeney, (212) 669-3747 
(kgt)NY 
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