(CNN) - JP Morgan's multi-billion dollar trading loss will hit its CEO in the wallet.
The bank slashed Jamie Dimon's salary and bonus by 53 percent.
JP Morgan lost more than $6 billion when a trader nicknamed the "London Whale" made a bad bet on credit derivatives.
The bank's board ruled that ultimately Dimon was responsible
He will still walk away with a nice salary, $11.5 million, including a $10 million bonus.