On the July 13th, 2012, JPMorgan Chase & Co. declared a bigger than expected loss for the quarter, $4.4 billion from positions held in the Chief Investment Office (CIO), increasing the total losses to $5.9 billion. The business and its particular CEO, Jamie Dimon, had been the source of intense scrutiny by regulators since the substantial risks in the CIO had first been revealed on April 5, legislators, shareholders, the media and analysts. The situation represented a critical, although rare, misstep by Dimon who had successfully directed Morgan through the financial disaster and was regarded as among the financial industry's best leaders and risk managers. The business also revealed that it was restating its first quarter 2012 results as a result of what it had learned as it inquired the CIO losses.
JPMorgan Chase & the CIO Losses Case Study Solution
PUBLICATION DATE: August 06, 2012 PRODUCT #: 313033-PDF-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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