JPMorgan Chase & Co. (NYSE:JPM) Cuts CEO Salary in Half - BNS, STBZ, WFC

Pompano Beach, FL -- (SBWIRE) -- 01/17/2013 -- JPMorgan Chase & Co. (NYSE:JPM) announced that its profits added 53% in the Q4 of 2012, but CEO Jamie Dimon's salary will be cut in half, following the bank lost billions of dollars on unsafe bets made in its London office. The incident blemished the repute of Dimon, who had effectively steered his bank through the latest financial crisis.

Can Investors Bet on JPM after this News update? Find out in this Research Report

Lax mistake of trading operation in London brought about gigantic losses by the bank. A sole trader known as Voldemort or the London Whale placed multibillion-dollar bets on complicated synthetic derivatives.

After those bets went unsuccessful, the bank wasted billions. An internal inquiry placed the criticism at Dimon's feet and currently the board has trimmed his salary in half, to a little more than $11 million.

So far today, JPMorgan Chase & Co. (NYSE:JPM) shares lost -0.64% to $46.52 while the stock is changing hands within a range of $46.34 – $46.87. In the past year, the stock has traded between $30.83 and $46.87. Its average daily trading volume is 24.26 million shares.

Has JPM Found The Bottom and Ready To Move Up? Find Out Here

Looking at other stocks within industry, Bank of Nova Scotia, State Bank Financial Corp and Wells Fargo & Company are in the loser list. Let’s have a quick look on their Market performance.

The Bank of Nova Scotia (USA) (NYSE:BNS) shares are down -0.12% to $58.18 while the stock is trading within the range of $58.14 – $58.36 in the current trading session. In the last 12 months, shares have floated between $48.45 and $59.18. This stock, on average, has trading volume of 488,200 shares.

Why Should Investors Buy BNS After the Recent Fall? Just Go Here and Find Out

In this session so far, State Bank Financial Corp (NASDAQ:STBZ) shares moved down -0.68% reaching $15.99. The stock is trading in a range of $15.96 – $16.13. In the last year the stock has moved within a range of $14.01 – $18.16. The Company’s average daily trading volume is 55,703 shares.

Will STBZ Get Buyers Even After The Recent Rally? Find Out Here

Another rival company, Wells Fargo & Company (NYSE:WFC), is trending -0.28% lower to $34.99. The stock price is hovering in range of $34.96 to $35.22. In the previous 52 weeks, shares price ranged between $28.77 and $36.60. Their average daily trading volume is 25.10 million shares.

Has WFC Found The Bottom and Ready To Move Up? Find Out Here

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