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jp
noun
Justice of the Peace
Exact(20)
So would Citigroup, which made $7.5bn in 2012 – a third of JP Morgan's haul – and only paid back its 2008 bailout this year; Citi is still such a work in progress that the Federal Reserve still won't allow the bank to give its investors dividends.
If Elpida, the vehicle through which JP McManus, John Magnier and others own 20% of M&B, supports Lewis's lowball offer, M&B is as good as sold.
That might have been cutting-edge innovation circa 1999 but, come on, this is still a delivery service, even if it has employed the mighty JP Morgan and Goldman Sachs as advisers.
Jenkins's bonus policies recently faced criticism from the former boss of investment bank JP Cazenove, Robert Pickering, who said investments would perpetuate the myth of the "death spiral".
Bank of America would find its back broken by the kind of fine facing JP Morgan; it would need a bailout to afford a $13bn settlement.
Winters is a former JP Morgan executive, who once criticised "greedy" bankers and served on the government's commission on banking.
Similar(40)
Goldman reported its results after JP Morgan Chase – the biggest US bank – announced a 12% rise in first-quarter profits, powered by its investment banking arm, and as Citigroup revealed a 21% rise in profits to $3.9bn £2.6bnn).
Bank of America, which has already shelled out $40bn in clean-up costs for its acquisition of Countrywide, made a paltry $4.2bn in net income last year: one-fifth of the income of JP Morgan.
JP Morgan estimated it might have to take as much as $54bn of losses on mortgages, which it managed to avoid.
We had probably 75 people at JP Morgan Chase involved in the process, both going through data as well as talking to members of the company," said one executive.
About Bear Stearns, for which JP Morgan predicted $33bn of potential exposure, a former JP Morgan executive was similarly proud in 2008: "we were very pleasantly surprised to see that it was a very well run, tight operation with good risk controls and a risk discipline that was very similar to our own," he said.
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