Dimon may take pay hit after JPMorgan’s $5.8 billion trading losses

The N.Y. Post reports that Jamie Dimon may take a hit to his own pocketbook after presiding over trading losses that blew a multi-billion dollar hole in the bank’s balance sheet.  Sources said that JPMorgan’s board will factor in the $5.8 billion in trading losses when calculating the bank chief’s year-end pay package.

JPMorgan took a $4.4 billion blow in the latest period from losses at its CIO unit, on top of a $1.4 billion hit in the first quarter.

To avoid a pay cut, the pressure is on Dimon — who once described the “London Whale” trading fiasco as a “tempest in a teapot” — to deliver stellar results the rest of the year and to dazzle the board.  Last year, the Wall Street titan scored a $23 million pay package.

Meanwhile, JPMorgan’s investment-banking pool fell 22 percent to $2 billion in the second quarter, with revenue off 7 percent.

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