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Dimon gets pat on the back and raise

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Published April 1, 2008 at 3:04 PM

It's no wonder J.P. Morgan Chase & Co.'s chief executive Jamie Dimon was rewarded with a 5% increase in salary over the $27.49 million he made last year. After all, J.P. Morgan has kept its head above water through the mortgage crisis, while also becoming a white knight in the banking industry.

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Societie Generale SA, Bear Stearns Cos. and now perhaps UBS could turn to J.P. Morgan for aid. J.P. Morgan is underwriting UBS' possible sale of $1.25 billion shares. MarketWatch suggests that "if investors don't step up to buy the UBS shares, J.P. Morgan can get a sizeable chunk of the world's largest asset manager at a discount to market prices." - Maria Woehr

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