JP Morgan pays UK staff more than £2m each JP Morgan paid more than 100 of its top employees in the UK an average of over £2m each in 2012. America's largest bank handed 126 London-based staff a total pot of £263.8m in 2012, the latest year for the figures. This was comprised of £41.1m in cash and £222.7m in bonuses, 50pc of which cannot be sold for two years. The pot was down from an average of £2.2m per employee in 2011. JP Morgan revealed the salary details of its "code staff," senior managers who decide how much risk the lender takes on, under EU laws introduced after the financial crisis. The lender also said it made record profits of $21bn (£12.7bn) in 2012, up 12pc from the previous year. This was despite the "London Whale" scandal that saw the lender lose $6.2bn on a derivatives bet. JP Morgan was subsequently fined a total of $920m in the US and UK for "serious failings" in its Chief Investment Office. JP Morgan's pay announcement comes just days after Goldman Sachs said it paid its top staff an average of £2.7m each in 2012, up 50pc on the previous year.