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. 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.
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., is scheduled to testify tomorrow before Congress about the bank’s $2 billion loss on derivatives trading at its chief investment office. Here’s a chronology of events leading to the disclosure and the aftermath.
Irvin Goldman, who oversaw risks in the JPMorgan Chase & Co. unit that suffered more than $2 billion in trading losses, was fired by another Wall Street firm in 2007 for money-losing bets that prompted a regulatory sanction at the firm, Cantor Fitzgerald LP, three people with direct knowledge of the matter said.