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by Derek Loosvelt | February 16, 2011


Nor is he going into politics or going to be "goaded into doing something dumb" with JPMorgan's capital, but he is planning on growing the firm's investment banking operations overseas in markets like Russia and Latin America as well as opening up thousands of new consumer branches in the U.S. in states like California and Florida.

The CEO said all this (actually, the bank's chief executive of retail financial services, Charlie Scharf, helped out) yesterday during JPMorgan's annual investor day.

In addition to the above, Dimon mentioned that as the economy stabilizes he'll increase the bank's dividend. However, one thing glaringly missing from his speech was this: "the pending $6.4 billion lawsuit against JPMorgan by the trustee seeking money for Madoff's victims, who accused the bank of being 'thoroughly complicit' in the Ponzi scheme."

Speaking of Bernie, he recently told New York Times reporter Diana B. Henriques (who's working on a book about Madoff) that banks "had to know" about his fraud. Though, the Ponz still maintains that his family knew nada.

(NYT - Dimon)

(NYT - The Ponz)


Filed Under: Finance

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