Jamie Dimon
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There is a new twist in the London Whale trading scandal that cost JPMorgan Chase $6.2 billion in trading losses last year. Some of the firm's own traders bet against the very derivatives positions placed by its chief investment office, said three people familiar with the matter.
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There is a new twist in the London Whale trading scandal that cost JPMorgan Chase $6.2 billion in trading losses last year. Some of the firm's own traders bet against the very derivatives positions placed by its chief investment office, said three people familiar with the matter.
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NEW YORK, Jan 29- There is a new twist in the London Whale trading scandal that cost JPMorgan Chase $6.2 billion in trading losses last year. The people familiar with the situation did not comment on the dollar value of the opposing trades placed by JPMorgan Chase& Co's investment bank traders, which was much smaller than the total positions put on by the CIO.
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The investment bank Jefferies Group Inc. said Tuesday that its CEO, Richard Handler, will get a 2012 pay package of $19 million, as measured by the bank's calculations. In a fiercely competitive industry, that will put him ahead of rivals like JPMorgan Chase's Jamie Dimon and Morgan Stanley's James Gorman.
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Jan 29- Jefferies Group Inc paid Chief Executive Richard Handler $45.2 million in 2012, making him one of Wall Street's most highly compensated executives, according to a securities filing on Tuesday. Handler's pay package included $1 million in salary, a $5 million bonus and $39 million in stock grants that would cover 2013 to 2015, according to the filing.
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Weber, whose bank is one of two that has already settled with U.S. and UK regulators, made the proposal at a gathering on Thursday of top bankers and officials including Bank of Canada Governor Mark Carney, JP Morgan Chase Chief Executive Jamie Dimon, Citigroup CEO Mike Corbat and HSBC Chairman Douglas Flint.
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Jan 24- Morgan Stanley Chief Executive Officer James Gorman received lower compensation for 2012 after a difficult year for the bank in which profits declined.
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*In recent private practice, White represented Wall Street. WASHINGTON, Jan 24- The White House on Thursday nominated former federal prosecutor Mary Jo White to head the Securities and Exchange Commission, selecting a hard-nosed enforcer who also has experience defending Wall Street figures.
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*In recent private practice, represented Wall Street. WASHINGTON, Jan 24- President Barack Obama on Thursday nominated former federal prosecutor Mary Jo White to head the Securities and Exchange Commission, picking a tough enforcement hand who more recently has defended Wall Street figures.
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LONDON, Jan 24- Material differences in the way banks define their risky assets is blinding investors' ability to make informed choices about where to put their money, a top regulator said on Thursday.
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Leaders of the world's largest banks have gone some way to persuading investors that their industry's near-death experience is over, even though the public still doesn't trust them.
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In an interview with CNBC's Maria Bartiromo in Davos, JPMorgan CEO Jamie Dimon says you can buy many world-class American, and global, companies at "pretty good prices." He expects stocks will continue to gain if the economy grows.
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JPMorgan Chase Chairman & CEO Jamie Dimon discusses the board's recent decision to cut his pay, the bank's latest earnings, and his outlook on politics and the economy.
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DAVOS, Switzerland, Jan 23- Leaders of the world's largest banks have gone some way to persuading investors that their industry's near-death experience is over, even though the public still don't trust them.
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NEW YORK, Jan 23- The biggest global banks will have to take steps in the coming years, including cutting compensation and shedding services, to generate adequate returns for their shareholders, consulting firm McKinsey& Co. said on Wednesday.
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CNBC's Andrew Ross Sorkin reports that commnts by JPMorgan CEO Jamie Dimon have upset some people in his Davos audience. (2:32)
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'Prepping' is the key word in Davos today as 'Team Bartiromo' finalized details for the 40+ interviews about to air over the next three days.
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Jan 22- Allegations that Timothy Geithner, then head of the New York Federal Reserve, may have told banks ahead of time about a surprise policy move in 2007 underscores the pressing case for reform to safeguard the integrity and independence of the central bank.
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*World Economic Forum annual meeting Jan. 23-27. *Key speeches from Italy's Monti, Germany's Merkel. ZURICH, Jan 21- Italian premier Mario Monti will set the tone for beleaguered business and political leaders gathering in Davos this week for the annual World Economic Forum, with a speech entitled "Leading against the odds".
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*Central banks faced funding banks indefinitely. LONDON/ PARIS, Jan 21- Lobbyists found themselves preaching to the converted: the European Central Bank and Bank of England needed little persuading in the end that new global liquidity rules for commercial banks needed loosening.
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Among the government overseers who will be flocking to the Swiss town for the World Economic Forum, there seems to be a growing feeling that the banks have taken enough bashing. The NYT reports.