Banks: Shareholders admonish JPMorgan on pay

In a rebuke to CEO Jamie Dimon, JPMorgan Chase shareholders voted overwhelmingly against the bank’s executive compensation package, said Joshua Franklin in the Financial Times. “Only 31 percent of investors voted in favor of the plan, which included a total $201.8 million package” for six members of the C-suite. Dimon was up for a $50 million “one-off special award.” An influential proxy advisory firm urged investors to vote against the package,” calling it “excessive” amid “tepid performance.” Nonetheless, the vote is nonbinding.