Jamie Dimon Takes His London Whale Apology Tour to Davos
January 23, 2013 by Douglas A. McIntyre
JPMorgan Chase & Co Chief Executive Jamie Dimon apologized to shareholders for the $6 billion loss caused by the so-called “whale” trade, calling it a “terrible mistake,” but said the bank has moved on and is still highly profitable.
“If you’re a shareholder of mine, I apologize deeply,” Dimon said at a presentation at the World Economic Forum in Davos, Switzerland. “But we had record results and life goes on.”
Despite a $6.2 billion loss from bad trades in JPMorgan’s chief investment office last year, the bank still managed to earn a record $21.3 billion in 2012.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.