JPMorgan settles hiring dispute

JPMorgan appears to have settled a dispute with a former close confidant of its chairman, Jamie Dimon, the latest reminder that the inner circle that helped the bank weather the financial crisis is no more.

The New York Times reports that Frank Bisignano, once the bank’s co-chief operating officer, departed last year to become the chief executive of First Data Corporation, a payment processing firm.

After he left, however, Bisignano lured away several other JPMorgan employees, including its former chief information officer Guy Chiarello, violating the terms of Bisignano’s exit agreement, according to an article in The Wall Street Journal on Monday.

JPMorgan, First Data and Kohlberg Kravis Roberts, the private equity firm that owns First Data, all declined to comment.

To stop the bank from challenging his hires, First Data agreed to pay JPMorgan under $10m, according to the story.

To access the complete New York Times article hit the link below:

Former JPMorgan Executive Said to Settle Hiring Dispute 

Past Sins Haunting Royal Bank of Scotland 

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