JP Morgan To Reclaim Millions From Execs In Trading Blunder
JPMORGAN TO CLAWBACK PAY – From WSJ’s Monica Langley and Dan Fitzpatrick: “J.P. Morgan Chase & Co. plans to reclaim millions of dollars in stock from executives at the center of the trading blunder that shocked Wall Street and tarnished the reputation of Chief Executive James Dimon. The nation’s biggest bank is expected to claw back compensation from individuals including Ina Drew, who ran the company’s Chief Investment Office, or CIO, according to people familiar with the bank’s plans… The bank could disclose the plans as early as Friday when it announces earnings, these people said… J.P. Morgan’s plan is the most prominent instance of a major U.S. bank seeking to recover pay from a high-ranking executive since the financial crisis.”