From Bloomberg: Wall Street, the global financial community reeling from
public outrage and increased regulation, is proving incapable of finding a
champion to replace sidelined JPMorgan Chase Chief Executive Officer Jamie
Dimon.
Dimon, 56, one of the industry’s most forceful advocates,
has lost stature as his bank, the largest in the U.S. by assets, juggles
multiple investigations and a $5.8 billion trading loss on wrong-way bets on
credit derivatives. His peers at other big lenders are hobbled by poor
performance, tarnished reputations or a reluctance to step into the breach.
“What you’re seeing
in the financial-services industry is a lack of any kind of credible
statesmen,” said Rakesh Khurana, a management professor at Harvard Business
School in Boston. Dimon’s diminished ability to defend the industry publicly
“basically leaves a vacuum,” he said....
Read all about it at http://www.bloomberg.com/news/2012-08-20/wall-street-leaderless-in-rules-fight-as-dimon-diminished.html
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