Dimon Sees No ‘Disaster’ Scenario for JPMorgan CIO Trading Loss

JPMorgan Chase & Co. (JPM) Chief Executive OfficerJamie Dimon said the firm doesn’t see any scenario in which trading losses in its chief investment office would amount to a disaster.

“We’re looking at all the potential outcomes” from the unit’s trades, Dimon said at an investor conference today in lower Manhattan. “There’s no outcome that will be a disaster for this company.”

The trade had resulted in about $2 billion in losses as of May 10, an amount Dimon said at the time could widen by $1 billion this quarter. It remains “very volatile right now,” though less so than previously, he said today, declining to answer a question on how large it may get.

“I am not sitting here worried about the ultimate loss on this thing,” Dimon said.

To contact the reporter on this story: Dawn Kopecki in New York at dkopecki@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.