JP Morgan Chase has used its internal compensation recovery policies to “clawback” two years of “total annual compensation” for London traders involved in what is now a $5.8 billion derivatives loss: Bruno Iksil (the “London Whale”); another trader, Javier Martin-Artajo; and their boss, Achilles Macris. All three have also left the firm with no severance pay.
Two Cheers for JP Morgan’s “Clawbacks”
JP Morgan Chase has used its internal compensation recovery policies to “clawback” two years of “total annual compensation” for London traders involved in what is now a $5.8 billion derivatives loss: Bruno Iksil (the “London Whale”); another trader, Javier Martin-Artajo; and their boss, Achilles Macris. All three have also left the firm with no severance […]
July 13, 2012