Jamie Dimon’s five-year retirement joke just got serious. The billionaire chief executive officer of JPMorgan Chase & Co. was granted a special gift to persuade him to lead the biggest U.S. lender for another “significant number of years.” He was awarded 1.5 million stock appreciation rights, which are like options and will let him capture a profit if the stock price rises in the coming years. At 65, Dimon is the only sitting bank CEO who led a major firm through the financial crisis. He took over JPMorgan in 2005, and built it into the biggest and most profitable bank in the country.
JPMorgan Chase Gives Dimon Bonus, Hoping To Extend Tenure
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JPMorgan Chase entices Jamie Dimon to stick around with surprise award
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Update on debt financing and trading The Company has engaged Credit Suisse AG, London branch, HSBC Bank plc and Barclays Bank plc as lead arrangers for a seven year €375 million senior secured term loan and in addition a five year £100 million equivalent multicurrency senior secured revolving credit facility with Credit Suisse, HSBC, Barclays, JP Morgan and BNP Paribas to refinance its existing €25 million and US$28.9 million term loans and its €35 million and €43.5 million multicurrency revolving credit facilities and to provide approximately £200 million for general corporate purposes, including to fund the cash element of future mergers, which is typically one-half of overall consideration. The Company will maintain its policy of maximum net leverage not exceeding 1.5-2x EBITDA.