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JPMorgan directors to release report on Whale loss - NY Times
January 15, 2013 / 8:33 PM / in 5 years

JPMorgan directors to release report on Whale loss - NY Times

NEW YORK (Reuters) - Directors of JPMorgan Chase & Co(JPM.N) voted on Tuesday to publicly release an internal report on how the company lost $6.2 billion on “London Whale” derivatives trades last year, The New York Times said on its website.

A trader walks past the JP Morgan booth on the floor of the New York Stock Exchange September 18, 2008. REUTERS/Brendan McDermid/Files

Chief Executive Jamie Dimon, who is also chairman of the board, argued that the report should be made public, the Times said, citing “several” people familiar with the matter.

    The report, which includes descriptions of mistakes by bank executives, is more than 50 pages long, according to the report.

    JPMorgan is scheduled to release fourth-quarter results on Wednesday and hold a conference call with analysts.

    A spokesman for JPMorgan was not immediately available for comment. (Reporting by David Henry in New York; editing by John Wallace)

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