JPMorgan Chase fell to its first loss under Jamie Dimon, after being engulfed in a legal and regulatory storm that cost the bank $9.2bn in litigation charges in the third quarter.
“It’s very painful for me personally,” said Mr Dimon as he announced the end of an unrivalled record of profit since becoming chief executive in 2005.
Though tarnished by two years of investigations into the bank spanning the “London whale” trading fiasco, allegations of manipulating commodities markets and mis-selling mortgage-backed securities, Mr Dimon has always been able to rely on his ability to make money.
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