Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

JPMorgan Gives Zames $9.1 Million in Stock After Trade Cleanup

Jan. 18 (Bloomberg) -- JPMorgan Chase & Co. awarded co-Chief Operating Officer Matt Zames $9.1 million in restricted stock, more than anyone else on the firm’s operating committee, after he helped the bank unwind botched trades.

Zames, the 42-year-old former co-head of fixed-income trading, was promoted twice in 2012 as he helped Chief Executive Officer Jamie Dimon regain control of a U.K. unit’s wrong-way bets on credit derivatives that cost more than $6.2 billion in the first nine months of the year.

Zames received 196,437 restricted stock units valued at $9.1 million based on yesterday’s closing stock price, according to a regulatory filing today. Half vest in January 2015 and the rest vest a year later. He also got 104,603 options with a 10-year term and a strike price of $46.58 that become exercisable in five installments starting next year.

To contact the reporter on this story: Dawn Kopecki in New York at dkopecki@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.