JPMorgan Sues London Whale’s Boss
JPMorgan Chase & Co. has filed suit against Javier Martin-Artajo, the executive who supervised Bruno Iksil, aka the London Whale, after the latter’s disastrous trades lost the bank what could be upwards of $6.2 billion.
Q2 Earnings Kickoff: JPMorgan Down, Wells Fargo Up and Markets Heave Sigh of Relief
Friday the 13th was lucky for JPMorgan and Wells Fargo as both banks’ stocks rose higher despite dark news that preceded their Q2 earnings reports.
JPMorgan Could Close Office That Drove $2B Loss
The chief investment office of JP Morgan in London, which last week made the headlines for losing $2 billion in trades, could be in danger of closing, its entire staff dismissed.
London’s ‘Whale’ Loses $2 Billion for JPMorgan
CEO Jamie Dimon said that the office suffered an “egregious” failure and that losses from volatile synthetic credit securities could mount by another $1 billion in this quarter or the third.