Jamie Dimon was right. Speaking at a televised session during the World Economic Forum in Davos last year, the JPMorgan chief executive officer predicted that the condemnation of bankers was far from over.
Speaking at a televised session during the World Economic Forum in Davos last year, the JPMorgan CEO predicted that the condemnation of bankers was far from over.
Bloomberg reports that this year, Dimon returns to the Swiss Alpine resort with no public appearances scheduled as head of a bank that agreed to pay more than $23bn in the past 12 months in fines and settlements. He’ll be joined by the leaders of other Western lenders that have been beset by record legal costs, fresh allegations of wrongdoing and lower profits.
Trust is on the agenda in Davos, along with market safety, as financiers gather after a bruising year of punishment and tougher regulation designed to avert another blowup. Those have eaten into profits and promise more pain. Anshu Jain, co-CEO of Deutsche Bank, will talk about rebuilding Europe’s banks, a project whose success rests on greater scrutiny by the region’s new supervisor.
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