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JPMorgan Chase, Goldman Sachs CEOs get better cash packages

By Danielle Haynes
JPMorgan Chase, Goldman Sachs CEOs get better cash packages
Lloyd Blankfein received a greater percentage of his bonus pay in cash in 2014. File photo by Roger L. Wollenberg/UPI. | License Photo

NEW YORK, Jan. 23 (UPI) -- The chief executives of JPMorgan Chase and Goldman Sachs saw the cash portion of their pay packages increase in 2014 compared to 2013.

The news came Friday after both banks announced their profits were up in 2014.

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In addition to receiving a $1 million raise in 2014, Goldman Sachs CEO Lloyd C. Blankfein received a $7.33 cash component, up from 30 percent to 33 percent of his overall pay.

JPMorgan Chase CEO Jamie Dimon also received a more attractive pay component. His pay remained flat in 2014, but he received $7.4 million in cash. His entire bonus in 2013 was in restricted stock.

Large banks have been moving more toward paying executives with restricted stocks and less cash since the financial crisis. This move was the ensure that banks' executives had a vested interest in the health of their firms.

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