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☆ Dimon says private equity giants are 'dancing in the streets' over tougher bank rules
▼ + stars: | 2023-07-14 | 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. "This is great news for hedge funds, private equity, private credit, Apollo , Blackstone ," Dimon said, naming two of the largest private equity players. Banks face requirements to hold more capital as a cushion against risky activities from both U.S. and international regulators. Authorities are proposing higher capital requirements for banks with at least $100 billion in assets after the sudden collapse of Silicon Valley Bank in March. But that also coincides with a long-awaited set of international rules spurred by the 2008 financial crisis referred to as the Basel III endgame.

Persons: Jamie Dimon, JPMorgan Chase, Wells, Mike Mayo, Michael Barr, Blackstone, Dimon, Apollo didn't, Banks Organizations: JPMorgan, Banking, Housing, Urban Affairs Committee, Nations Largest Banks, Federal, Silicon Valley Bank Locations: Wells Fargo, Silicon, Basel

☆ JPMorgan’s Profit Jumps, but Interest Rates Remain a Threat
▼ + stars: | 2023-07-14 | by ( Rob Copeland | More About Rob Copeland | ) www.nytimes.com time to read: +2 min

Why It MattersGiven its size, JPMorgan is a proxy for the banking industry at large. Jamie Dimon, the bank’s chief executive, has deep political connections and his prognostications on the economy are scrutinized in some circles as closely as a central banker’s musings. On Friday, in a statement, Mr. Dimon said the U.S. economy was “resilient,” echoing language he has used repeatedly this year, but listed a litany of risks, including that consumers are burning through their cash buffers and that inflation remains high. BackgroundJPMorgan and Mr. Dimon have been all over the news this year, thanks to their prominent role as an attempted stabilizing force during the spring’s banking crisis that felled three smaller lenders. What’s NextThe next week or so will see a slew of other banks report their quarterly earnings.

Persons: Jamie Dimon, Dimon, Goldman Sachs Organizations: JPMorgan, Treasury, Western Alliance and Comerica Locations: U.S, Republic

☆ JPMorgan's Jamie Dimon reels off a list of dangers to the US economy - and warns they could inflict serious damage
▼ + stars: | 2023-07-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Jamie Dimon flagged a long list of threats facing the US economy on Friday. He's worried about consumer spending, inflation, quantitative tightening, fiscal deficits, and war. "The war in Ukraine continues, which in addition to the huge humanitarian crisis for Ukrainians, has large potential effects on geopolitics and the global economy," he added. If any of those dangers hit the US economy, it's unclear whether they would cause a "soft landing, a mild recession, or a hard recession," he added. Dimon shared similar concerns in an interview with The Economist released earlier this week, and has previously warned there are myriad threats facing the global economy.

Persons: Jamie Dimon, He's, Dimon Organizations: JPMorgan, Service, AlphaSense, Federal Reserve Locations: Wall, Silicon, JPMorgan's, Ukraine

☆ U.S. banks point to resilient but slowing economy, flag risks ahead
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +3 min

U.S. consumers still have a healthy balance sheet, the banks said, but warned spending was slowing and there had been a modest deterioration in some consumer debt. "The U.S. economy continues to be resilient," JPMorgan Chief Executive Jamie Dimon said. Investors have worried that high interest rates could push the economy into a recession, but the outlook remains uncertain. Wells CEO Charlie Scharf said the range of scenarios for the economy should narrow over the next few quarters. For now, the economy is performing better than many expected but will likely continue slowing.

Persons: JPMorgan Chase, Wells Fargo WFC.N, Wells, Jamie Dimon, Jeremy Barnum, Charlie Scharf, Larry Fink, Wells Fargo, Scharf, Morgan Stanley, Goldman Sachs, Niket Nishant, Noor Zainab Hussain, Mehnaz Yasmin, Manya, Nupur Anand, Saeed Azhar, Megan Davies, Paritosh Bansal, Nick Zieminski Organizations: JPMorgan, Citigroup, Citi, Federal Reserve, CNBC, Wells, Bank of America, Manya Saini, Thomson Locations: Wells, U.S, Bengaluru, New York

☆ Jeffrey Epstein lawsuit: US Virgin Islands seeks $190 million from JPMorgan Chase
▼ + stars: | 2023-07-14 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

The government for the Virgin Islands said in a court filing it also wants JPMorgan Chase to implement an independent compliance consultant to prevent human trafficking and to separate its business and compliance functions. “This document does not reflect the nature of settlement conversations,” a spokesperson for JPMorgan Chase said. The Virgin Islands’ DOJ filed a brief in the United States District Court in the Southern District of New York on Friday. The Virgin Islands government filed its own lawsuit against JPMorgan Chase in December 2022. JPMorgan Chase CEO Jamie Dimon denied knowing about internal reviews of Epstein’s criminal conduct and his account with the bank when they were happening in depositions for the lawsuit.

Persons: Jeffrey Epstein’s, JPMorgan Chase, Epstein, Jeffrey Epstein, ”, JPM, Virgin, Denise George, Jamie Dimon, “ Organizations: New, New York CNN, JPMorgan Chase, Virgin, JPMorgan, Virgin Islands Department of Justice, Islands ’ DOJ, United States, Court, of, Virgin Islands, US Virgin Islands, ”, Firm, CNN Locations: New York, Florida, Southern, of New York, Manhattan, Beach

☆ What layoffs? JPMorgan Chase is growing headcount in every division despite a dealmaking drought and possible economic slowdown.
▼ + stars: | 2023-07-14 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

Wall Street has suffered severe layoffs amid a dealmaking drought and shaky economic outlook. Headcount is up in every division, not including thousands of First Republic employees onboarded in July. Jobs have grown in every division despite the non-stop news about industry layoffs (think Goldman) and consolidation (think Credit Suisse). It has also cut about 40 high-paying investment banking jobs, and about 1,000 jobs from its home lending unit. The bank also beat Wall Street's expectations and has again become a challenger to Goldman Sachs' spot as No.

Persons: JPMorgan Chase, Jobs, Goldman, It's, headcount, Goldman Sachs, Morgan Stanley, May, JPM, Jamie Dimon, JPMorgan's, Jeremy Barnum Organizations: JPMorgan, First Republic, onboarded, Suisse, JPMorgan Headcount, Bank Division, Consumer, Community Bank, Investment Bank, Bank, Wealth Management, First, Republic, Wall, Credit Suisse, UBS, Reuters, Global, Basel III Locations: Louis , Missouri, First Republic, San Francisco, China, Ukraine, Basel

☆ Top bank analyst Mike Mayo says keep buying JPMorgan at the highs: 'Goliath is winning'
▼ + stars: | 2023-07-13 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Wells Fargo is staying bullish on JPMorgan ahead of its earnings report premarket Friday — even as the stock keeps rising. Analyst Mike Mayo kept his overweight rating on the Jamie Dimon-led bank, calling it his top pick in the group. Wall Street's consensus estimate for 2023 earnings have increased by 13% since the start of the year, while peers have seen theirs fall by an average of 15%, Mayo said. "JPM exemplifies our 'Goliath is Winning' theme," Mayo said in a note to clients on Wednesday. And Mayo said the bank has shown greater resiliency given rising interest rates, the possibility of a recession and increased government regulation.

Persons: Wells, Mike Mayo, Jamie Dimon, Wells Fargo's, Mayo, JPM, JPMorgan's, Michael Bloom Organizations: JPMorgan, Citigroup Locations: Wednesday's, Republic

☆ Inflation fever is finally breaking. The Fed’s soft landing may be in sight
▼ + stars: | 2023-07-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

But I can’t help imagine him quietly fist-pumping the moment he got wind of the latest inflation data. For context, a year ago the CPI peaked at 9.1% — the worst inflation in more than 40 years. After a punishing stretch of rising prices, “the fever is breaking,” wrote Bill Adams, chief economist for Comerica Bank. In other words, the Fed may actually pull off the “soft landing” — lowering inflation without tanking the economy — that few believed was doable even six months ago. “The odds of achieving a soft landing just went up drastically,” Dan Alpert, managing director of Westwood Capital, told me.

Persons: CNN Business ’, Jerome Powell, he’d, Jay won’t, ”, Bill Adams, Jay Powell, “ We’ve, Lael Brainard, Joe Biden’s, “, Brainard, hadn’t, ” Dan Alpert, “ I’m, Jamie Dimon, you’ll Organizations: CNN Business, New York CNN, Consumer, Comerica Bank, Fed, Westwood Capital, JPMorgan Chase Locations: New York

☆ US charges second Frank college aid executive with defrauding JPMorgan
▼ + stars: | 2023-07-12 | 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: +1 min

Companies JPMorgan Chase & Co FollowNEW YORK, July 12 (Reuters) - U.S. prosecutors on Wednesday unveiled an indictment charging Olivier Amar, who helped run college financial aid startup Frank, with defrauding JPMorgan Chase (JPM.N) into buying their company for $175 million. Amar, who was Frank's chief growth officer, was charged with wire fraud, bank fraud, securities fraud and conspiracy, becoming the second company official indicted in the case. Lawyers for Amar, whose whereabouts were not immediately known, did not immediately respond to a request for comment. A spokesman for the U.S. Attorney's office in Manhattan also did not immediately respond to a request for comment. The bank shut down Frank in January, and Chief Executive Jamie Dimon branded the acquisition a "huge mistake."

Persons: Olivier Amar, Amar, Frank, Charlie Javice, Javice, Jamie Dimon, counterclaims, Luc Cohen, Bill Berkrot Organizations: JPMorgan Chase, U.S, JPMorgan, Thomson Locations: Manhattan, U.S, Amar, Delaware, New York

☆ Jamie Dimon predicts consumers will exhaust their pandemic savings by Christmas - and warns of much greater threats than recession
▼ + stars: | 2023-07-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Jamie Dimon is far more concerned about global threats than a US recession. The JPMorgan CEO expects consumers to exhaust their pandemic savings around the end of this year. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. "Even if we go into recession, consumer's in great shape," Dimon said, adding that was broadly true for businesses too. The JPMorgan boss first sounded the alarm on the global economic outlook more than a year ago.

Persons: Jamie Dimon, Dimon Organizations: JPMorgan, Service Locations: Russia, Ukraine, Wall, Silicon, Africa

☆ JPMorgan Chase CEO Jamie Dimon isn’t a fan of ‘Bidenomics’
▼ + stars: | 2023-07-12 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —Jamie Dimon isn’t sold on “Bidenomics.”“I’d be careful about that,” said Dimon, CEO of JPMorgan Chase, in reference to president Joe Biden’s economic theory that rejects “trickle-down” policies in favor of focusing on the middle class. In an interview with The Economist released Tuesday, Dimon classified Bidenomics largely as industrial policy – a strategy that specifically encourages or subsidizes particular industries, such as manufacturing. He said he’s in favor of some industrial policy lately, for the first time in his life, but only as it relates to national security and competitiveness. Although Dimon said he’s worried about a possible second Donald Trump presidential term, he said he doesn’t intend to run for office. At least for now, though, the “big storm clouds” Dimon warned about last year only “partially hit,” he said.

Persons: Jamie Dimon isn’t, I’d, ”, Dimon, Joe Biden’s, Dimon’s, “, Bidenomics, ” Dimon, he’s, Donald Trump Organizations: New, New York CNN, JPMorgan Chase Locations: New York

☆ The American banking landscape is on the cusp of a seismic shift. Expect more pain to come
▼ + stars: | 2023-07-10 | by ( Hugh Son | ) www.cnbc.com time to read: +10 min

But even as the dust settles from a string of government seizures of failed midsized banks, the forces that sparked the regional banking crisis in March are still at play. What is coming will likely be the most significant shift in the American banking landscape since the 2008 financial crisis. JPMorgan shares are up 7.6% this year, while the KBW Regional Banking Index is down more than 20%. Some of those pressures will be visible as regional banks disclose second-quarter results this month. "The fundamental issue with the regional banking system is the underlying business model is under stress," said incoming Lazard CEO Peter Orszag.

Persons: Jamie Dimon, Brian Graham, Banks, KeyCorp, Matt O'Connor, Peter Orszag, SVB, Chris Wolfe, Wolfe, you've, You've, Goldman Sachs, Lazard's Orszag, Orszag, Janet Yellen, Sen, Elizabeth Warren, Klaros, Graham Organizations: First, JPMorgan, Silicon Valley Bank, CNBC, Klaros, Deutsche Bank, Federal Reserve Bank of New, Justice Department Locations: First Republic, Silicon Valley, SVB, KBW, Federal Reserve Bank of New York, Republic

☆ Return to Office, Recession Fears End Wall Street's Hamptons Work-From-Home Party
▼ + stars: | 2023-07-09 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

It may seem counterintuitive, but the pandemic was like a brief visit to Shangri-La for Wall Street. For the first time in years, Wall Street has to sing for its supper. A return to the office also means a return to more-classic Wall Street social norms. Wall Street, for all its highfalutin personalities and big paydays, is an apprenticeship system. For Wall Street, the heart of the pandemic was a moment to consider what life would be like at a slower, more-nurturing pace.

Persons: You've, Crypto, Dealmaking, Goldman Sachs, me, Seth Klarman, Klarman, Lee Felty, Harrison, Felty, Jim Chanos, Chanos, Jamie Dimon, David Solomon wouldn't, Fenty, Goldman, Solomon, Wall, Young, It's, Al Mare, Topping Rose, Jean, Georges, Maison, Wall Streeter, Linette Lopez Organizations: Wall, JPMorgan, Hamptons, CNBC, Compass, Chanos, East Hampton, Citigroup, Bloomberg, SoHo Locations: New York, East, Manhattan, Long, Stocks, Bridgehampton, It's

Lawyers for Dimon, the bank's chief executive, and Staley, a former private banking and investment banking chief, urged a dismissal in filings late Thursday in Manhattan federal court. Lawyers for Dimon and the directors said there was no showing that either knowingly ignored red flags about Epstein, or that Dimon was involved in keeping Epstein as a client. The so-called derivative lawsuit seeks to have the defendants or their insurers pay damages to JPMorgan, benefiting shareholders. It is also defending against a lawsuit by the U.S. Virgin Islands, where Epstein owned two neighboring private islands. Staley has expressed regret for his friendship with Epstein and denied knowing about his sex trafficking.

Persons: Jamie Dimon, Jes Staley, Jeffrey Epstein, Staley, Epstein, Dimon, Jonathan Stempel, David Holmes Organizations: YORK, JPMorgan Chase's, Dimon, JPMorgan, Lawyers, U.S ., Barclays, Miami General Employees & Sanitation Employees, Court, Southern District of, Thomson Locations: Manhattan, Miami, Pittsburgh, U.S . Virgin Islands, New York, U.S, Southern District, Southern District of New York

☆ 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

☆ You probably think the economy is much worse off than it is
▼ + stars: | 2023-07-05 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

Inflation is cooling and jobs abound, but many Americans still feel dissatisfied with the economy. Democrats and Republicans alike think the economy is struggling, despite evidence showing otherwise. Some say the US is in a "vibecession," a disconnect between how the economy performs and how Americans feel about its performance. Even now, with slower inflation, paused interest-rate hikes, and a healthy job market, Americans can't give up the idea that the economy is in trouble. If you're comparing your financial situation with that of three years ago, you're likely to feel as if the economy has gotten worse, even though it's actually gotten better.

Persons: —, Joe Biden, Trump, it's, Kyla Scanlon, Scanlon, Jamie Dimon, JPMorgan Chase, Goldman Sachs Organizations: Democrats, Service, University of Michigan, Pew Research, Pew, Bureau of Labor Statistics, JPMorgan, CNN, New York Fed, Conference Board, US

☆ Rupert Murdoch Can Do Whatever He Wants. It’s Becoming a Problem. - The New York Times
▼ + stars: | 2023-07-04 | by ( William D. Cohan | ) www.nytimes.com time to read: +3 min

Mr. Murdoch’s heir apparent, Lachlan, defended Fox and the Dominion settlement when speaking to investors on May 9. Contrast Mr. Murdoch with, say, Jamie Dimon, the chairman and chief executive of JPMorgan Chase, the nation’s largest bank. Does anyone at Fox or News Corp hold Mr. Murdoch accountable in the same way? One way to rein in Mr. Murdoch may lie with Smartmatic. Smartmatic, or even the recently filed shareholder lawsuit against Fox, could end up pressuring Fox, and indirectly News Corp, to scrap their dual-class stock structures.

Persons: Murdoch’s, Lachlan, ”, “, ” Ms, Minow, Roberts, Shari Redstone, Murdoch, Jamie Dimon, JPMorgan Chase, Joaquin Duato, Johnson, Dimon, he’s, Duato Organizations: Fox, Fox News, Fox Corporation, Comcast, Paramount Global, JPMorgan, Mr, News Corp Locations: America

☆ JPMorgan, Wells Fargo and Morgan Stanley to boost dividends after clearing Fed stress test
▼ + stars: | 2023-06-30 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Large U.S banks including JPMorgan Chase , Wells Fargo and Morgan Stanley said Friday they plan to raise their quarterly dividends after clearing the Federal Reserve's annual stress test. On Wednesday, the Fed released results from its annual exercise and said that all 23 banks that participated cleared the regulatory hurdle. The test dictates how much capital banks can return to shareholders via buybacks and dividends. After they cleared the test, Wells Fargo said it will increase its dividend to 35 cents a share from 30 cents a share, and Morgan Stanley said it would boost its payout to 85 cents a share from 77.5 cents a share. Goldman Sachs announced the largest per share boost among big banks, taking its dividend to $2.75 a share from $2.50 a share.

Persons: Wells, Morgan Stanley, Jamie Dimon, Wells Fargo, Goldman Sachs Organizations: JPMorgan Chase, Federal, JPMorgan Locations: Wells Fargo, New York

Morgan Stanley co-presidents Ted Pick and Andy Saperstein are widely viewed as the front-runners for the top job, with Pick seen as having a slight edge, the person said. A Morgan Stanley spokesperson declined to comment, as did Gorman, Pick, Saperstein and Simkowitz when contacted directly. SUCCESSION PLANNINGSince taking the helm, Australian-born Gorman, 64, has transformed Morgan Stanley through a series of major deals into a wealth management powerhouse that aims to manage $10 trillion in assets. Pick, 54, heads Morgan Stanley's institutional securities group, overseeing areas including investment banking, equities and fixed income. Saperstein, 56, is in charge of the wealth management unit that has bolstered Morgan Stanley's profits in recent years.

Persons: Morgan Stanley's, James Gorman's, Gorman, Morgan Stanley, Ted Pick, Andy Saperstein, Pick, Dan Simkowitz, Morgan, Merrill Lynch, You've, you've, Peter Orszag, Kenneth Jacobs, JPMorgan Chase, Jamie Dimon, Brian Moynihan, Lananh Nguyen, Paritosh Bansal, Megan Davies, Jamie Freed Organizations: YORK, U.S . Securities, Exchange Commission, U.S, Attorney's, Southern, of, McKinsey, White House, JPMorgan, Bank of America, Thomson Locations: London, New York, of New York, Australian

☆ US banks gird for dose of post-stress-test trauma
▼ + stars: | 2023-06-29 | by ( John Foley | ) www.reuters.com time to read: +8 min

NEW YORK, June 29 (Reuters Breakingviews) - For the biggest U.S. banks, the nerves this year come after the exam. Fed stress tests subject banks to a theoretical market shock and incorporate elements of operational risk, and then spit out a “stress capital buffer” requirement tailored to each firm. The risk for banks is that new rules get piled on top of existing regulations in a process known as gold-plating. U.S. banks are awaiting a proposal from their regulators to revamp capital rules, expected in July. Gruenberg said regulators were considering expanding the reach of a stricter set of capital rules to include banks with over $100 billion in assets.

Persons: Goldman Sachs, Michael Barr, Jamie Dimon, Banks, Morgan Stanley, Jay Powell, PwC, watchdogs, Michelle Bowman, Martin Gruenberg, It’s, Gruenberg, Peter Thal Larsen, Streisand Neto Organizations: YORK, Reuters, Federal Reserve, JPMorgan, Citigroup, Banking Supervision, Basel III, America, State Street, Bank of New York Mellon, Big, Bank, U.S ., Reuters Graphics Reuters, Signature Bank, First, Fed, Federal Deposit Insurance, FDIC, Credit Suisse, Committee, “, “ Basel IV, Federal, Thomson Locations: U.S, Basel, Goldman, Big U.S, Swiss, “ Basel

☆ LVMH owner Bernard Arnault reportedly visits China after luxury spending rebound
▼ + stars: | 2023-06-28 | by ( Laura He | ) edition.cnn.com time to read: +4 min

LVMH reported its first-quarter sales surged 17% from a year ago, beating analyst expectations, driven by a rebound in China’s luxury market from the downturn it experienced during the pandemic. Luxury goods spending bounced back more quickly than any other sector in the first quarter. Although the economic momentum has lost steam in the past couple of months, growth in luxury goods sales has accelerated. China was one of the world’s largest luxury goods markets before Covid hit. Bain & Co. estimated earlier this year that Chinese consumer spending accounted for around 17% of the global luxury market in 2022.

Persons: Hong Kong CNN — Bernard Arnault, Elon Musk, Morgan, Jamie Dimon, Musk, Caijing, Christian Dior, LVMH didn’t, LVMH, ”, Jean, Jacques Guiony, “, Li Qiang, ” Li Organizations: Hong Kong CNN, LVMH, WF, CNN, Consumers, Bain & Co Locations: Hong Kong, China, Beijing, ” Beijing

☆ 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

☆ James Crown, a billionaire JPMorgan board member who belonged to one of the US' richest families, died in a racing crash on his 70th birthday
▼ + stars: | 2023-06-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Billionaire businessman James "Jim" Crown died in a racing crash in Aspen, Colorado on Sunday. Crown collided with an impact barrier in an accident, the coroner's office told The Colorado Sun. Forbes ranked the Crown family as the US' 34th richest in 2020 with an estimated wealth of $10.2 billion. Billionaire businessman James "Jim" Crown died in a racing crash in Aspen, Colorado on Sunday, multiple news outlets reported. "The official cause of death is pending autopsy although multiple blunt force trauma is evident," the coroner's office told the publication.

Persons: James, Jim, Crown, Henry Crown, Junius Mayer Schine, Jamie Dimon, Joe Biden, Narendra Modi, Biden, Brandon Johnson, Jim Crown Organizations: Sunday . Crown, Colorado Sun, Forbes, Morning, Aspen Motorsports, The Colorado Sun, Pitkin County Coroner's, Aspen Times, Bloomberg, Henry Crown and Company, Aspen Institute, Aspen Skiing, General Dynamics, White, Indian, America, Chicago, Museum of Science and Industry, University of Chicago Locations: Aspen , Colorado, Pitkin County, Colorado, Chicago

☆ JPMorgan, General Dynamics board member Jim Crown dies in accident
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, June 26 (Reuters) - JPMorgan Chase & Co (JPM.N) and General Dynamics Corp (GD.N) board member Jim Crown died on Sunday in a vehicle accident in Colorado, a county coroner said. Crown, 70, was the chairman and chief executive officer of Henry Crown and Co., a privately owned company that invests in public and private securities, real estate and operating companies. Crown was involved in a single vehicle accident at the Aspen Motorsports Park in Woody Creek, Colorado, the Pitkin County Coroner's office said in a statement. Bank CEO Jamie Dimon said in a memo to directors seen by Reuters that Crown was an "integral part" of JPMorgan Chase. Crown was also the chairman of The Aspen Institute and trustee of the Museum of Science and Industry and the University of Chicago.

Persons: Jim Crown, Henry Crown, Jamie Dimon, Crown, Nupur Anand, Lananh Nguyen, Tatiana Bautzer, Cynthia Osterman Organizations: YORK, JPMorgan Chase &, General Dynamics Corp, Aspen Motorsports, Bank, Reuters, JPMorgan Chase, The Aspen Institute, Museum of Science, Industry, University of Chicago, Thomson Locations: Colorado, Woody Creek , Colorado, Pitkin County, New York

☆ Billionaire killed in race car crash
▼ + stars: | 2023-06-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —James Crown, a billionaire businessman who held several leadership roles including board member of JPMorgan Chase, died Sunday in a racing accident in Colorado. Crown, who also turned 70 on Sunday, died in the single-vehicle crash after colliding with an impact barrier at Aspen Motorsports Park in Woody Creek, Colorado, The Colorado Sun reported. Among his many roles, Crown was chairman and CEO of his family business, the investment firm Henry Crown and Company. In addition to serving on the JPMorgan board, he was also a board director at General Dynamics. “We extend our deepest condolences to Jim’s family and loved ones during this incredibly difficult time,” Jamie Dimon, CEO of JPMorgan Chase, said in a statement.

Persons: James Crown, JPMorgan Chase, Crown, Henry Crown, Jim’s, ” Jamie Dimon, Jim, ”, Jim Crown, Barack Obama Organizations: DC CNN, JPMorgan, Colorado . Crown, Aspen Motorsports, The Colorado Sun, Henry Crown and Company, General Dynamics, JPMorgan Chase, ”, Aspen Skiing Co, Aspen Institute, Museum of Science and Industry, Civic Committee, University of Chicago, Crown, President’s Intelligence, Local, Pitkin County Coroner’s, Forbes Locations: Washington, Colorado, Woody Creek , Colorado, The, Chicago, Pitkin County

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