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JPMorgan’s Dimon Says Balance Sheet Built to Handle ‘Surprises’

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JPMorgan Chase CEO Jamie Dimon
James "Jamie" Dimon, chief executive officer of JPMorgan Chase & Co. Photographer: Scott Eells/Bloomberg

May 15 (Bloomberg) -- JPMorgan Chase & Co. Chief Executive Officer and Chairman Jamie Dimon said the firm’s balance sheet is built to withstand unexpected incidents after the company last week announced a $2 billion trading loss.

“We maintain a fortress balance sheet to manage surprises and setbacks like this,” Dimon told shareholders today at their annual meeting in Tampa, Florida. “I’m confident when we’re done here we’ll be a stronger company.”

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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

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