|  | | 2012 News and Press Releases | | |
HEADLINE NEWS:
JPMorgan’s Chief Says Clawback Efforts Are Likely
Ben Protess
The New York Times DealBook. June 13, 2012
_________________________________________________________________________
EXCERPT: JPMorgan Chase is “likely” to try to recover compensation from executives responsible for a recent multibillion-dollar trading blowup, according to Jamie Dimon, the bank’s chief executive. In testimony on Wednesday before the Senate Banking Committee, Mr. Dimon assured lawmakers that the bank’s board was investigating the trading losses at the chief investment office. Once the investigation is complete, he said, the bank will decide whose paychecks to pursue. “When the board finishes the review, you can expect we’ll take proper corrective action,” the executive told a packed hearing room, shortly after a parade of protesters jeered the chief executive. “There’s likely to be clawbacks.” |
|
|
