JPMorgan Chase & Co (JPM) has picked Lee Raymond, ex-chief executive officer of Exxon Mobil Corp (XOM), to head an inquiry by company directors into losses in a credit derivative portfolio run by its London-based Chief Investment Office, according to a source familiar with the matter. The company’s board also […]
Tag: JPMorgan Chase
Exclusive: Banks in Libor probe consider group settlement-sources
A group of banks being investigated in an interest-rate rigging scandal are looking to pursue a group settlement with regulators rather than face a Barclays-style backlash by going it alone, people familiar with the banks’ thinking said. Such discussions are preliminary, and it is unclear if regulators will enter these […]
JPMorgan says bad trade has ballooned to $5.8B
JPMorgan Chase said Friday that a bad trade had cost the bank $5.8 billion this year, almost triple its original estimate, and raised the prospect that traders had improperly tried to conceal the blunder. “This has shaken our company to the core,” CEO Jamie Dimon said. The bank said managers […]
