JPMorgan Chase & Co., settling U.S. and U.K. probes of a $6.2 billion trading loss, agreed to pay $920 million in penalties and admitted violating securities laws last year as top managers withheld information from the board.
JPMorgan Chase & Co. Chief Risk Officer John Hogan is returning to the bank in a new role after taking almost five months off and may decide to leave the firm altogether later this year or next, Chief Executive Officer Jamie Dimon told employees in a memo today.
JPMorgan Chase & Co. Chief Risk Officer John Hogan, whose tenure included the bank’s worst-ever trading loss, will take a temporary leave for personal reasons beginning later this month, he said in a memo to staff.
JPMorgan Chase & Co. trader Bruno Iksil, known as the London Whale because his bets this year were so large, has been a leviathan of a risk-taker since at least 2010, a person with knowledge of the matter said.
JPMorgan Chase & Co. could have spotted trouble at its chief investment office long before traders there racked up at least $2 billion in losses. One reason it didn’t: Chief Executive Officer Jamie Dimon.
JPMorgan Chase & Co. opposed Lehman Brothers Holdings Inc.’s bid to pull Bruno Iksil, known as the “London Whale” trader, into an $8.6 billion fight between the biggest U.S. bank and the defunct investment bank.