HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » STOCK MARKET WATCH -- Tue... » Reply #15
Introducing Discussionist: A new forum by the creators of DU

Reply #15


Response to Tansy_Gold (Original post)

Tue Mar 19, 2013, 08:00 AM

15. JPMorgan Whale Pushed for ‘Young’ Trader Who Later Took His Job

http://www.bloomberg.com/news/2013-03-18/jpmorgan-s-whale-advocated-young-trader-who-later-took-his-job.html

Bruno Iksil, the trader whose wagers cost JPMorgan Chase & Co. (JPM) $6.2 billion and led to his ouster, may have unwittingly helped pick his replacement.

Henry Kim, then trading high-yield indexes for the market- making desk at the firm’s investment bank, is “very young and very talented” and should be considered for a post in the chief investment office, Iksil said in a Jan. 30, 2012, e-mail to supervisor Javier Martin-Artajo, according to documents accompanying a report last week by the U.S. Senate Permanent Subcommittee on Investigations.

Kim “would like to know whether there is some opportunity for him here at CIO be it New York or London,” Iksil wrote. “I thought maybe he could try to meet with you while you are in New York even informally.”

Iksil wrote the message months before his souring bets spiraled into a public spectacle that Chief Executive Officer Jamie Dimon, 57, attributed to “egregious,” self-inflicted mistakes. The e-mail, included among 598 pages of documents accompanying the Senate report, shows Iksil’s interest in taking talent from the company’s investment bank -- a division that CIO employees came to suspect of undermining the trades.

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 34 replies Author Time Post
Tansy_Gold Mar 2013 OP
Demeter Mar 2013 #1
Tansy_Gold Mar 2013 #3
Demeter Mar 2013 #2
Ghost Dog Mar 2013 #4
Ghost Dog Mar 2013 #5
Ghost Dog Mar 2013 #6
Demeter Mar 2013 #11
xchrom Mar 2013 #7
Demeter Mar 2013 #12
xchrom Mar 2013 #8
xchrom Mar 2013 #9
jtuck004 Mar 2013 #29
Demeter Mar 2013 #32
jtuck004 Mar 2013 #34
xchrom Mar 2013 #10
Demeter Mar 2013 #13
xchrom Mar 2013 #14
Demeter Mar 2013 #23
LineReply JPMorgan Whale Pushed for ‘Young’ Trader Who Later Took His Job
xchrom Mar 2013 #15
xchrom Mar 2013 #16
xchrom Mar 2013 #17
Demeter Mar 2013 #21
xchrom Mar 2013 #18
xchrom Mar 2013 #19
westerebus Mar 2013 #24
xchrom Mar 2013 #25
westerebus Mar 2013 #33
xchrom Mar 2013 #20
xchrom Mar 2013 #22
Demeter Mar 2013 #26
Ghost Dog Mar 2013 #28
bread_and_roses Mar 2013 #27
DemReadingDU Mar 2013 #30
Demeter Mar 2013 #31
Please login to view edit histories.