By Peter Schroeder - 01/24/14 09:58 AM EST
After a year in which JPMorgan Chase doled out billions of dollars in government fines, its chief executive is set to receive a raise.
The board of the global bank agreed this week to give Jamie Dimon a pay boost, after last halving his pay, according to The New York Times.
Dimon's pay was slashed in the aftermath of the "London Whale" trading debacle, a black eye for the bank when traders lost billions of dollars on trades gone awry. Over the past several months, the bank has paid roughly $20 billion to settle several different government cases, including charges it broke rules leading up to the financial crisis.
The bank's board was split on whether Dimon's reduced pay should remain so in the wake of those settlements, or if he deserved a raise for steering the bank through that challenging time, according to the Times.