JPMorgan Investment Bank Chief Widens Pay Lead on Rival
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Jes Staley, chief executive officer of JPMorgan Chase & Co.’s investment bank, beat his Bank of America Corp. counterpart in compensation after boosting earnings during last year’s market slump.
Staley’s $16 million award for 2011 almost held steady from the $17 million he made the previous year as profit at the firm’s investment bank climbed 2.3 percent to $6.8 billion. Bank of America co-chief operating officer Thomas K. Montag’s pay dropped 25 percent to $12 million after profit at the lender’s investment bank plunged by more than half to $2.97 billion.