JPMorgan’s Macris Was Paid More Than His Boss Before Whale Loss
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JPMorgan Chase & Co. paid Achilles Macris $31.8 million in the two years before the firm racked up at least $6.2 billion of losses on a portfolio he oversaw, more than his boss Ina Drew and among the most at the bank.
Macris’s total compensation was $14.5 million for 2011 and about $17.3 million for 2010, according to a presentation in the Senate Permanent Subcommittee on Investigations report released yesterday. Drew, the former chief investment officer who lost her job because of the bad trades, forfeited her pay for those two years, a total of $29 million.