Chase Ceo Says Bank 'strong' After $2b Loss

Chase CEO says bank 'strong' after $2B loss NEW YORK (AP) — JPMorgan Chase CEO Jamie Dimon is reassuring the bank's employees that the company is "very strong." In a letter sent to employees late Thursday that was obtained by The Associated Press, Dimon says no customers suffered as a result of the bank's mistakes.

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  • JPMorgan: A Bad Judgment Call Or Systemic Failure?
    The week's topic du jour was CEO pay ... A loss of $2B would be concerning enough, except that it really wasn't just a loss of $2B. The loss is quickly ballooning-- current estimates are $7 to $8B. While the bank can obviously recover from a $8B loss ...
    06/17/2012 - 2:05 am | View Link
  • 'There was good intent': JPMorgan's Jamie Dimon APOLOGIZES while explaining $2B loss to Congress amid protesting hecklers
    The CEO said that JPMorgan adopted a strategy late last year to reduce risk, but it backfired in its investment operation by heightening risk instead. The bank has named a new leader for the investment operation that was responsible for the loss.
    06/13/2012 - 1:49 am | View Link
  • JPMorgan Chase CEO tells Congress senior executives will 'likely' lose pay over $2B trading losses
    WASHINGTON — JPMorgan Chase CEO Jamie Dimon told Congress this morning that senior ... suggested last week that the bank lacked strong controls to contain risk in its investment operations. And The Wall Street Journal reported Tuesday that some senior ...
    06/13/2012 - 12:09 am | View Link
  • JPMorgan Chase CIO Ina Drew Resigns
    The bank is very strong and well capitalized, CEO Jamie Dimon said in the statement. Drew, 55, for the past seven years had led the trading division at the bank. A trader known as the "London Whale" Bruno Michel Iksil is also said to be leaving.
    05/14/2012 - 7:49 am | View Link
  • JPMorgan Chase Exec Ina Drew Resigns, $2B Trading Debacle Claims Its First Scalp
    First JPMorgan Chase & Co. (NYSE: JPM), the largest U.S. bank by assets ... JPMorgan's chairman and CEO, in a statement. It's important to remember that our company is very strong and well capitalized, with leading franchises across our businesses.
    05/13/2012 - 7:05 am | View Link
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