Wall Street giant JP Morgan paid its longtime chief executive Jamie Dimon a record $36m (£28.4m) for last year.

The payout was a 4.3pc increase for Mr Dimon and comes after the bank reported $49.6bn (£39.1bn) of profits, well ahead of its peers, on $158bn of revenue. He was paid $34.5m in 2022.

Mr Dimon, 67, who is the longest serving chief executive on Wall Street’s Big Four banks, hailed the results, published after JP Morgan shares rose 27pc during the year, outperforming all major rivals. 

The bank’s board said: “The firm is in a uniquely fortunate position to be led by such a highly talented and experienced executive who continues to grow the company, maintain market leadership positions, strengthen the firm’s reputation, invest in opportunities for the future, promote diversity and best practices, manage risk and develop great leaders, while also maintaining his focus on the firm’s clients.”

Mr Dimon’s payout will be made up of a $1.5mn base salary and a $34.5mn bonus, most of which is paid in stock.

His net worth, much of which is in JP Morgan stock, has been calculated at about $1.9bn by Forbes.

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