DIRS.INFO The most relevant business & tech news

☆ JPMorgan's Jamie Dimon says he 'totally' understands why an employee doesn't want the one-and-a-half-hour commute — but it 'doesn't mean they need to have a job there either'
▼ + stars: | 2023-07-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Jamie Dimon thinks remote work doesn't cut it for all roles. Doesn't mean they have to have a job here either," Dimon told The Economist in a wide-ranging interview released Tuesday. "It doesn't work for younger kids in apprenticeships, it doesn't really work for creativity and spontaneity, it doesn't really work for management teams," he told The Economist. Dimon told the media outlet he wasn't opposed to remote work if it works, but he doesn't mind getting rid of it if it doesn't work. Dimon's comments came amid a furious debate about the future of remote work as the world exits from the COVID-19 pandemic.

Persons: Jamie Dimon, pushback, Dimon, We're, Dimon's Organizations: JPMorgan, Service, CNBC Locations: Wall, Silicon

☆ Bill Ackman says it'll be a 'huge loss' if JPMorgan boss Jamie Dimon doesn't run for US president
▼ + stars: | 2023-07-06 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

Billionaire investor Bill Ackman once again urged Jamie Dimon to campaign for US President. It would be a 'huge loss' if the JPMorgan boss didn't run for office, he tweeted. "It is a huge loss for us all if Jamie won't run," Ackman tweeted, alongside a video of the 67-year-old speaking at a conference hosted by The Economic Club of Washington D.C. in 2016. This isn't the first time that Ackman, who is the CEO of the hedge fund Pershing Square, backed Dimon as a potential president. Others including famed investor Warren Buffett, former US president Bill Clinton, and real estate developer Ross Perot Jr. have also praised Dimon's leadership qualities and political skills over the past decade.

Persons: Bill Ackman, Jamie Dimon, didn't, Warren Buffet, Bill Clinton, —, Jamie won't, Ackman, Dimon, Carlyle, David Rubenstein, Warren Buffett, Ross Perot Organizations: US, JPMorgan, Service, Privacy, The Economic, of Washington D.C, Ross Perot Jr, Bloomberg Locations: America

☆ How Jeffrey Epstein turned the US Virgin Islands into a pedophile's playground and helped elect a sitting member of Congress
▼ + stars: | 2023-06-27 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +21 min

Court filings show how Jeffrey Epstein exerted power in the US Virgin Islands, two of which he owned. A financier worth hundreds of millions of dollars, Epstein owned two islands in the US Virgin Islands (there are roughly 50 islands overall). He had donated generously to Democratic politicians from the US Virgin Islands for years. With the assistance of the US Virgin Islands' first lady, Epstein navigated the territory's political waters unscathed. The court records show that, at least in the US Virgin Islands, he exerted influence with little friction.

Persons: Jeffrey Epstein, Stacey Plaskett, —, Plaskett, Epstein, James, Lesley Groff, Scott Applewhite, Stacey, Thomas, didn't, Groff, maxed, Shawn, Michael Malone, Gabriel Lopez Albarran, Cecile de Jongh, John de Jongh Jr, de Jongh, Malone, De Jongh, Darren Indyke, Richard Kahn, Kahn, Groff didn't, Stuart McPhail, McPhail, Jeffrey Epstein's, Erika Kellerhals, Hi Jeffrey, Rick Friedman, Corbis, de, JPMorgan Chase, Ghislaine Maxwell, Epstein's, Maxwell, She's, Mary Erdoes, Jamie Dimon's, Jes Staley, Epstein's thrall, Jongh, Denise George, Albert Bryan Jr, Bryan, Jed Rakoff, Emily Michot, Bill Clinton, Donald Trump, Prince Andrew, Trump's, De, Epstein doled, John de Jongh's, Kenneth Mapp, John de Jongh, John, wasn't Organizations: Virgin Islands, Service, Democratic, US, Islands, Democratic Congressional, AP, Federal, Commission, Democratic Party, Virgin Islands Economic Development Authority, Southern Trust Co, de, Indyke, Democrat, Getty Images JPMorgan, US Virgin Islands, JPMorgan, Virgin, Hyperion, Barclays, Authorities, United States Virgin Islands, Virgin Islands Senate, Gov, New York Times, US Virgin, Deutsche Bank, U.S ., Miami Herald, Tribune, Getty, Federal Government, Mapp's PAC Locations: Virgin, Washington, Puerto Rico, Little St, Palm Beach , Florida, St, Croix, Manhattan, Islands, US Virgin, New York, U.S, U.S . Virgin Islands, Jongh, Tortola

☆ 'Lots of smoke. Lots of questions': Internal emails show JPMorgan Chase execs worried about the bank's ties to Jeffrey Epstein. So why did it take so long to cut him loose?
▼ + stars: | 2023-06-23 | by ( Kaja Whitehouse | Emmalyse Brownstein | ) www.businessinsider.com time to read: +29 min

That, of course, is the billion-dollar question: What did JPMorgan, America's largest bank, know about Epstein's alleged sex trafficking? Today, banks have entire departments dedicated to tracking client activity and flagging suspicious behavior. Lots of questions'The fuss JPMorgan compliance officers raised about Epstein in 2011 was extensive. Lots of questions," declared a senior JPMorgan compliance officer reviewing Epstein's accounts as part of that 2011 compliance review, according to court papers filed by the US Virgin Islands. Staley sent Epstein internal JPMorgan documents and relied on him for guidance on an array of business and personal dealings, the JPMorgan internal report shows.

Persons: —, Morgan Stanley, Lehman Brothers —, Jamie Dimon, Jeffrey Epstein, Leon Black, Bill Clinton, Donald Trump, Epstein, Jes Staley, Staley, Jeffrey Epstein's, Michelle Licata, Courtney Wild, Stephanie Keith, Jane Doe, JP Morgan —, Epstein —, jes staley, Patricia Wexler, Wexler, Dimon, Barry Krischer, JPMorgan, Ghislaine Maxwell, Rod Stewart, Cipriani, Joe Schildhorn, Patrick McMullan, Frank Haberstroh, Haberstroh, Les Wexner, Wexner, Tom Williams, JP Morgan, Little, Little Saint James, Epstein's, Jim Spellman, Staley didn't, Morgan, James, Emily Michot, Bill Gates, Larry Summers, Woody Allen, Stephen Cutler, Cutler, Mary Erdoes, Erdoes, Youngbee Dale, Dale, JPMorgan Chase, Michael M, NYDFS, Bernie Madoff, Cecile de Jongh, Joe Shmoe, Jacob Shamsian Organizations: JPMorgan, Highbridge Capital Management, Citigroup, Lehman Brothers, titans, Apollo, US, US Virgin Islands, Bloomberg TV, Financial, US Department of, Treasury, Getty, BSA, Polaris Market Research, United Nations University Centre, M2C Model, Palm, JPMorgan Chase, Washington D.C, Inc, Apollo Global Management, The New York Times, Little Saint, Virgin, U.S ., Miami Herald, Tribune, Service, Microsoft, Columbia University, Mountain Capital, DOJ, New, Deutsche Bank, New York Department of Financial Services, Virgin Islands, Barclays, Authority, Wall Street Journal Locations: York, Manhattan, New York, US Virgin, dimon, Palm Beach , Florida, New York City, UN, Paris, Washington, Prague, thomas, Wexner, Little Saint, I'm, Little St, U.S, U.S . Virgin Islands, Staley, Dimon's, Virgin, British

☆ JPMorgan Chase's drawn-out breakup with Jeffrey Epstein
▼ + stars: | 2023-06-23 | by ( Kaja Whitehouse | Emmalyse Brownstein | ) www.businessinsider.com time to read: +29 min

Several months later, in October 2006, JPMorgan categorized Epstein as a "high-risk" client, according to a transcript of Dimon's deposition in May. Today, banks have entire departments dedicated to tracking client activity and flagging suspicious behavior. Lots of questions'The fuss JPMorgan compliance officers raised about Epstein in 2011 was extensive. A 'faithless servant'One person who might know much more about the tangled relationship between Epstein and JPMorgan is Jes Staley. Staley sent Epstein internal JPMorgan documents and relied on him for guidance on an array of business and personal dealings, the JPMorgan internal report shows.

JPMorgan Chase said Monday it has reached a settlement with one of late sexual predator Jeffrey Epstein's victims, who had been suing the bank in federal court. JPMorgan argues that Staley is responsible for any civil liability a jury might find in the Epstein case. Last month, Deutsche Bank, where Epstein became a client after he was forced out by JPMorgan in 2013, settled with Epstein victims for $75 million. The announcement comes more than a week after JPMorgan CEO Jamie Dimon gave a deposition in the Epstein cases. On Friday, lawyers for the Epstein victim, called Jane Doe 1 in documents, asked the court to reopen Dimon's deposition.

Persons: JPMorgan Chase, Jeffrey Epstein's, Jane Doe, Epstein, Jes Staley, Staley, Jamie Dimon, Mary Erdoes, Mary Casey, Dimon, Bill Gates, Prince Andrew of, Bill Clinton, Donald Trump Organizations: JPMorgan, JPMorgan Chase Bank, N.A, U.S . Virgin, Deutsche Bank, Islands, Barclays, Plaintiff, Microsoft Locations: Virgin, Florida, New York

In his deposition, Dimon said he had barely heard of Epstein before the financier's arrest. JPMorgan is also being sued over Epstein by the U.S. Virgin Islands, where the financier allegedly also abused victims on a private island he owned. The bank is suing Staley to cover losses it may face in both lawsuits. Staley, who was Barclays' (BARC.L) CEO from 2015 to 2021, is expected to sit for a deposition on Saturday. The case is Jane Doe 1 v JPMorgan Chase & Co, U.S. District Court, Southern District of New York, No.

Persons: Jeffrey Epstein, Jamie Dimon, Jed Rakoff, Dimon's, Epstein's, Epstein, Jes Staley, Mary Erdoes, Mary Casey, Darin Oduyoye, Oduyoye, Dimon, Staley, Jane Doe, Tatiana Bautzer, Jonathan Stempel, Richard Chang Organizations: YORK, JPMorgan Chase, JPMorgan, Plaintiffs, U.S ., Barclays, JPMorgan Chase & Co, Court, Southern District of, Thomson Locations: U.S, Manhattan, U.S . Virgin Islands, Southern District, Southern District of New York, New York

☆ Epstein accuser seeks new testimony from JPMorgan CEO Jamie Dimon
▼ + stars: | 2023-06-09 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., right, at the US Capitol following a meeting with Senate Majority Leader Chuck Schumer in Washington, DC, US, on Wednesday, May 17, 2023. Lawyers for a Jeffrey Epstein victim asked a federal judge on Friday to allow them to take new testimony from JPMorgan Chase CEO Jamie Dimon and others as part of a lawsuit against the bank over its dealings with sex predator Epstein. JPMorgan denies any wrongdoing but has said it regrets having had Epstein as a client. McCawley noted that Rakoff in May had admonished JPMorgan for turning over documents to the plaintiff's legal team "at an inexplicably slow rate." "This pattern of producing documents from the custodial files of witnesses after their depositions has persisted throughout the discovery period."

Persons: Jamie Dimon, Chuck Schumer, Jeffrey Epstein, Epstein, Dimon, Jed Rakoff, Sigrid McCawley, Jane Doe, Mary Erdoes, Mary Casey, McCawley, JPMC, Joseph Evangelisti, Jamie, —, Eamon Javers Organizations: JPMorgan Chase &, JPMorgan Chase, Court, JPMorgan, U.S . Virgin, CNBC Locations: Washington , DC, Manhattan, U.S

☆ JPMorgan CEO Jamie Dimon arrives at Capitol Hill to meet with House Democrats
▼ + stars: | 2023-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan CEO Jamie Dimon arrives at Capitol Hill to meet with House DemocratsCNBC's Eamon Javers and JPMorgan's Jamie Dimon on 'Halftime Report' to discuss meeting with democrats on Capitol Hill, Dimon's presidential candidacy plans, and expectations for the Fed's July actions.

Persons: Jamie Dimon, Democrats CNBC's Eamon Javers Organizations: Democrats, Capitol

☆ Jamie Dimon, America’s top banker, has 'no plans’ to run for office
▼ + stars: | 2023-06-05 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

JPMorgan Chase CEO Jamie Dimon has "no plans" to run for office, according to a statement from the bank Monday. Last week, hedge fund manager Bill Ackman tweeted that Dimon should run for president in the upcoming 2024 elections. That came after Dimon said in a recent interview that he would like to one day serve his country "in one capacity or another." "As he has said in the past, Jamie has no plans to run for office," the bank said in its statement Monday. Last month, at the firm's annual investor day, an analyst asked Dimon how many more years he expected to serve as CEO.

Persons: Jamie Dimon, Schumer, JPMorgan Chase, Bill Ackman, Dimon, Jamie, Donald Trump, Morgan Stanley, James Gorman, Dimon didn't Organizations: JPMorgan, U.S, Capitol Locations: Washington , U.S, JPMorgan, York

☆ JPMorgan's No. 2 explains how the fintech threat made the nation's largest bank even bigger
▼ + stars: | 2023-06-02 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +3 min

JPMorgan Chase, the nation's largest bank by assets, is getting bigger every day. The bank's second-in-command said the fintech threat is driving some of its expansion plans. 2, Daniel Pinto, suggested that the looming fintech threat is also responsible for JPMorgan's retail banking expansion in Europe. It plans to spend $15.3 billion on tech in 2023, up $14 billion from last year. Last month, JPMorgan agreed to pay about $10.6 billion to buy First Republic Bank after the smaller bank was seized by regulators.

Persons: JPMorgan Chase, Daniel Pinto, Jamie Dimon's, fintechs, Dimon's, Pinto, Bernstein, JPMorgan Organizations: JPMorgan Chase, JPMorgan, Morning, Bloomberg, First, Bank Locations: Europe, United States, Germany, America

But China, which bristles at visits to Taiwan by foreign government officials, tends to ignore trips by business executives, who usually keep clear of politics. Dimon will meet bank employees and clients in Taiwan on his visit, said the source, who sought anonymity as the plans were not public, while adding that no meetings were planned with Taiwan officials. As part of his Asia tour, Dimon will also visit South Korea after the Taiwan trip, said the source. But there was no plan for President Tsai Ing-wen to meet Dimon, her office said on Friday. Dimon favours East-West "derisking" rather than decoupling, he told the three-day JPMorgan Global China Summit event in the city on Wednesday.

Persons: Jamie Dimon, Andrew Collier, Dimon, Nvidia Corp's, Jensen Huang, Pat Gelsinger, Dimon's, Ma Ying, Tsai Ing, Chen Jining, Selena Li, Kane Wu, Scott Murdoch, Ben Blanchard, Emily Chan, Mrinmay Dey, Sumeet Chatterjee, Clarence Fernandez Organizations: JPMorgan Chase &, JPMorgan, Orient Capital Research, Bloomberg, Wall, U.S, Nvidia, Intel, Financial, Commission, Shanghai's Communist, JPMorgan Global China, Thomson Locations: Taiwan, China, Taipei, Beijing, Hong Kong, Asia, South Korea, East, United States, Sydney, Bengaluru

☆ From Wall Street to Washington: Which finance execs would make the best public servants?
▼ + stars: | 2023-06-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

There has long been speculation that America's most-famous banker has plans to run for some sort of public office. The path from Wall Street to Washington is well worn, with plenty of high-profile executives taking up positions in the government. When most Wall Street executives were still afraid of the public cloud, she was ready to embrace it with open arms. Jon Gray — Treasury SecretaryBlackstone's president and chief operating officer has already had a brush with public office. The idea of him holding public office doesn't seem far-fetched.

Persons: Dan DeFrancesco, TikTok, I'm, we've, nabbing, Joe Biden's, Kevin McCarthy's, Jamie Dimon, Larry Downing, hasn't shied, Dimon, Dimon's, Bill Ackman, Kenneth Chenault —, Kathy Hochul, she's, Chenault, He's, Larry Fink —, We've, Larry, Fink, Adena Friedman, Friedman, Jon Gray —, Gray, Donald Trump, Gray's, Wall, Sen, Elizabeth Warren, Ken Griffin, Griffin, hasn't, Griffin hasn't, Ron DeSantis, he'll, Brian Moynihan —, Moynihan, Dan Schulman —, PayPal — he's, Taylor Swift, Kevin Mazur, Larry Fink, Franklin Templeton, It's, Rockefeller, Stephen Schwarzman, Warren Buffett, Cliff Asness, that's, Here's, Jeffrey Cane, Nathan Rennolds Organizations: JPMorgan, REUTERS, Bloomberg, American Express, Catalyst, Washington Post, BlackRock, SEC, CFTC, OCC, Nasdaq, Wall, Democrat, GOP, Florida Gov, Commerce, PayPal, Express, Virgin Mobile, Rockefeller Capital Management, Putnam Investments, Blackstone, Credit Suisse, UBS, Reuters, LinkedIn Locations: NYC, Washington, New York, Florida, Chicago, Miami, Ohio, Swiss, London

☆ Ex-JPMorgan executive wrote Epstein 'should not be a client' in 2011 email -deposition
▼ + stars: | 2023-05-31 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

Dimon said in the deposition he was not aware of the email at the time but "I know it today." Epstein was a JPMorgan client from 2000 to 2013, remaining so after pleading guilty in 2008 to a Florida state prostitution charge. In the deposition, Dimon also repeatedly denied speaking about Epstein with Staley, who was friendly with Epstein. Staley has said he regrets his friendship with Epstein, but denied knowing about Epstein's alleged sex trafficking. Epstein died in 2019 in a Manhattan jail cell while awaiting trial on sex trafficking charges.

Persons: Morgan Chase, Mike Segar, Jeffrey Epstein, Jamie Dimon, Dimon, Epstein, Ghislaine Maxwell, Stephen Cutler, Jes Staley, Mary Erdoes, Cutler, David Boies, Jane Doe, JP Morgan, Staley, Erdoes, Niket, Luc Cohen, Saumyadeb Chakrabarty, Rosalba O'Brien Organizations: Co, New York City, REUTERS, JPMorgan Chase &, Reuters, U.S ., JPMorgan, Virgin, The New York Times, Thomson Locations: New York, U.S, U.S . Virgin Islands, Florida, Manhattan, Bengaluru

☆ Businesses went from being 'bridge between China and U.S. to battleground': APCO's Jim McGregor
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBusinesses went from being 'bridge between China and U.S. to battleground': APCO's Jim McGregorJim McGregor, APCO Worldwide greater China chairman, joins 'Squawk Box' to discuss Tesla CEO Elon Musk and JPMorgan CEO Jamie Dimon's separate visits to China this week, and the fine line CEOs must walk when dealing with both Beijing and Washington.

Persons: Jim McGregor Jim McGregor, Elon Musk, Jamie Dimon's Organizations: APCO, JPMorgan Locations: China, U.S, Beijing, Washington

☆ Bill Ackman calls on JPMorgan CEO Dimon to run for US president
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

May 31 (Reuters) - Billionaire hedge fund manager Bill Ackman said Jamie Dimon should run for president in the next U.S. elections after the JPMorgan Chase & Co (JPM.N) CEO expressed his interest in pursuing a public office. loadingAckman called Dimon an "exemplary leader" and lauded him for having "superbly managed" JPMorgan through every crisis. There have been speculations about Dimon's potential presidential run in the future. "If he decides to get out of banking, I think he would be really good in politics," former President Bill Clinton once said of Dimon. In the 2016 presidential election, Ackman had urged former New York City Mayor and billionaire Michael Bloomberg to run for president.

Persons: Bill Ackman, Jamie Dimon, Dimon, Ackman, Donald Trump, Bill Clinton, Michael Bloomberg, Niket, Bayliss, Jaiveer, Anil D'Silva Organizations: Billionaire, JPMorgan Chase &, Bloomberg, JPMorgan, Trump, Pershing, Capital Management, Street, New, New York City, Svea Herbst, Thomson Locations: China, United States, New York, Bengaluru, Svea

☆ JPMorgan's Jamie Dimon just sounded off on what it takes to be a good CEO
▼ + stars: | 2023-05-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

JPMorgan CEO Jamie Dimon has a take that might surprise you. Succession plans for the unofficial face of Wall Street have long been speculated on. One of the biggest issues we see on Wall Street, or in business more broadly, is an executive not knowing when to cut ties. Want to know what a Wall Street hiring raid looks like? Here's Wall Street's plan if the US defaults on its debt.

☆ JPMorgan investors to scrutinize First Republic takeover
▼ + stars: | 2023-05-19 | by ( Nupur Anand | ) www.reuters.com time to read: +4 min

Analysts will seek more details about the deal and JPMorgan's plans to integrate First Republic's business into the largest U.S. bank. FIRST REPUBLICJPMorgan has agreed to undertake $173 billion of the failed bank's loans, $30 billion of securities and $92 billion of deposits after First Republic was shuttered down by authorities. Dimon had said that he expects blowback from the FRC deal earlier this month in an interview on Bloomberg TV. loadingAn acquisition of this scale will raise question on integration, execution risks, employee retention among others, analysts believe. JPMorgan has made 19 acquisitions since 2020 but the last major purchase of this scale by the lender was in 2008 of Bear Stearns.

NEW YORK, May 16 (Reuters) - JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon said that it is "unlikely" that the bank will acquire any other struggling lender, weeks after it acquired the failed First Republic Bank. Dimon's latest statement comes just two weeks after JPMorgan bought a majority of First Republic Bank's assets in a rescue effort backed by the U.S. government. First Republic was the third major U.S. institution to fail in two months, and JPMorgan agreed to take $173 billion of the bank's loans, $30 billion of securities and $92 billion of deposits. In the shareholder meeting on Tuesday while all management proposals passed, all of the motions submitted by shareholders failed. A shareholder proposal on tweaking rules under which shareholders can call for a special shareholder meeting also got more than 30% of backing.

☆ Jamie Dimon says it's ‘unlikely’ that JPMorgan Chase will acquire another struggling bank
▼ + stars: | 2023-05-16 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled Annual Oversight of the Nations Largest Banks, in Hart Building on Sept. 22, 2022. JPMorgan Chase CEO Jamie Dimon said Tuesday that it's not likely his bank would acquire another struggling lender after its government-brokered acquisition of First Republic. "Unlikely," was Dimon's curt response to a shareholder who asked about acquisitions during the New York-based bank's annual shareholder meeting. The turmoil in mid-sized banks sparked by the Silicon Valley Bank collapse in March shows that merely meeting regulatory requirements isn't enough, Dimon added. Dimon spoke on the same day that former Silicon Valley Bank CEO Gregory Becker and two ex-Signature Bank executives testified before the Senate.

☆ When Jamie Dimon speaks, Wall Street listens - and he just warned of catastrophe
▼ + stars: | 2023-05-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

But on Thursday, the man with the most gravitas on Wall Street shared his take on the potentially catastrophic scenario that's just weeks away. Everyone pays attention when Jamie Dimon speaks. In an interview with Bloomberg, Dimon said he's put together a "war room" at JPMorgan to plan for contingencies around a potential US default. While Dimon doesn't anticipate the country will actually see its first-ever default, he acknowledged the clock is running down. "Markets will get volatile, maybe the stock market will go down, the Treasury markets will have their own problems."

☆ JPMorgan's Dimon reportedly making first mainland China visit in four years
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: +1 min

Jamie Dimon, chief executive officer of JPMorgan Chase, is planning his first visit to mainland China in four years as the American bank prepares to host three conferences in Shanghai at the end of May. The visit is Dimon's first to mainland China since the pandemic gathered pace in 2020 and closed the world's second-largest economy for almost three years as it enforced some of the world's most stringent restrictions. He will also visit Hong Kong in early June after the Shanghai trip, two of the sources added. Dimon visited the Asian financial hub of Hong Kong to meet the bank's staff and clients in November 2021. A JPMorgan spokesperson in Hong Kong declined to comment on Dimon's visit to mainland China and Hong Kong.

The visit is Dimon's first to mainland China since the pandemic gathered pace in 2020 and closed the world's second-largest economy for almost three years as it enforced some of the world's most stringent restrictions. He will also visit Hong Kong in early June after the Shanghai trip, two of the sources added. Dimon visited the Asian financial hub of Hong Kong to meet the bank's staff and clients in November 2021. A JPMorgan spokesperson in Hong Kong declined to comment on Dimon's visit to mainland China and Hong Kong. Reporting by Julie Zhu in Hong Kong, Scott Murdoch in Sydney and Nupur Anand in New York; Editing by Sumeet Chatterjee and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Deposition of JPMorgan CEO Dimon in Jeffrey Epstein lawsuit set for late May, sources say
▼ + stars: | 2023-05-03 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

JPMorgan Chase CEO Jamie Dimon will be deposed in late May over two days for civil lawsuits accusing the giant bank of benefitting from sex trafficking by the late money manager Jeffrey Epstein, a source told CNBC's Eamon Javers on Wednesday. The government of the U.S. Virgin Islands and one of Epstein's accusers are suing JPMorgan in U.S. District Court in Manhattan. The bank has said Dimon did not have knowledge about Epstein that was relevant to the lawsuit. JPMorgan argues that Staley, not the bank, is legally responsible for any civil liability related to its dealings with Epstein. Epstein killed himself in a Manhattan jail cell in 2019, a month after being arrested on federal child sex trafficking charges.

☆ PacWest, Western Alliance lead regional bank sell-off of more than 20% a day after Jamie Dimon said the crisis had ended
▼ + stars: | 2023-05-02 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Shares of PacWest and Western Alliance each fell more than 25%, leading bank stocks lower on Tuesday. "This part of the crisis is over," JPMorgan's Jamie Dimon said after his bank took over First Republic. Shares of PacWest and Western Alliance fell as much as 26% and 27%, respectively. The S&P Regional Banks Select Industry Index fell 7%, while the KBW Regional Banking ETF fell 6%. The crash in regional bank shares comes a few days after First Republic Bank failed and was taken over by the Federal Deposit Insurance Corporation and its assets sold to JPMorgan.

Search resuls for: "Dimon's"

25 mentions found