Bonus Season At a Slight Loss for Bank CEOs

By: AP
By: AP

NEW YORK (AP) -- JPMorgan Chase, the nation's largest bank,
posted record profit for 2011. Morgan Stanley's latest quarter
topped expectations as the bank trimmed costs and cleaned up
mortgage-related problems.

But CEOs Jamie Dimon and James Gorman aren't taking home bigger bonuses.

Banks are curbing bonus pay for last year, as stock prices slumped, mortgage-related costs still mounted and the Occupy Wall
Street movement went national.

On Friday, regulatory filings showed Gorman received 2011 stock
awards valued at $5.1 million -- half of what he got in 2010.

JPMorgan's Dimon received restricted stock worth $12.6 million and
stock appreciation rights reportedly valued at about $5 million.

That's about even with the year before.

None of the banks have yet filed annual proxy statements, which
include complete details on CEOs' pay.

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