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Obama’s ‘favourite banker’ took a beating this week after the firm’s name was dragged through the mud following $2bn of trading losses. Dimon faced criticism from investors who argued that he should end his dual role as chairman and chief executive of the bank, but the majority of shareholders overruled the proposal at the bank’s quickfire AGM in Tampa, Florida. Dimon appeared contrite after earlier bullishness, labelling the errors the result of a “new strategy (that) was flawed, complex, poorly reviewed, poorly executed, and poorly monitored,” according to remarks recorded by Reuters. The fallout from JP Morgan’s $2bn trading meltdown this week claimed the career of Ina Drew, who ran the risk management group which oversaw the losses.

Jamie Dimon faced investors at JP Morgan's AGM; The FSA banned BGC's Tony Verrier; and Plus Markets' troubles deepened for chief executive Cyril Théret.

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David Thomas

JP Morgan

Ex-Fidelity star Anthony Bolton warns US stocks will have ‘day of reckoning’

JPMorgan AM ups headcount 20% in European ETF push

Why are women over 50 quitting fund management?

Trading Places: Goldman’s ECM shake-up, Latham’s latest raid

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Find out who is on the move in the City and beyond this week

Sidley Austin raids Latham & Watkins for 10-lawyer team in London

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CDPQ hires Sharon White to lead push in Europe

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Former chair of the John Lewis Partnership is joining the Canadian pension fund giant early next year

One of the top investors in Adani Group launched an on-market share buyback to protect its share price against the contagion from a U.S. investigation into the Indian conglomerate.

GQG Launches Buyback After Stock Tumbles on Adani Probe

The president-elect floated the idea during a Wednesday meeting with the former Fed governor.

By Brian Schwartz, Vivian Salama and Andrew Restuccia

Trump Considers Warsh Serving as Treasury Secretary—and Then Fed Chair

The U.S. auditing watchdog voted to require certain audit firms to disclose eight new metrics ranging from auditor turnover to partner involvement and restatement history.

Large Accounting Firms Will Have to Submit Financial Statements to U.S. Regulator

The AI titan will maintain its strong lead, but complicated product rollouts, sky-high expectations and the China threat add complications to growth potential.

Nvidia Is on Top but Does It Have Anywhere to Go but Down?

Research group GfK’s measure of consumer confidence climbed to minus 18 in November’s survey from minus 21 in October.

U.K. Consumers Cheerier Ahead of Holidays as Budget, U.S. Election Jitters Fade

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