Company

J.P. Morgan Chase & Co.

Description

The London Whale trading blunder resulted in a $6 billion loss for the company and a whole lot of bad press, especially for CEO Jamie Dimon, who was hauled before Congress and docked half his annual bonus. In addition, the bank had to pay out $900 million in penalties according to a settlement with the Federal Reserve and the OCC related to mortgage fraud. Despite those huge dents in its wallet, J.P. Morgan Chase recorded an impressive 12% increase in profits to $21.3 billion on the back of a strong investment banking performance and increased fees for mergers and acquisitions, and debt and equity underwriting.



Headquarters

270 Park Ave. New York, NY. 10017 212-270-6000

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