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Even worse nevertheless, many of Dimon’s prime lieutenants experienced fears and ended up hotly debating the problem, but never escalated the matter for their manager. Stephen Cutler, JPMorgan’s normal counsel at enough time, emailed colleagues in 2011 to mention Epstein was “not an honorable particular person in any way” and should not be a client, court files display. Jes Staley, who oversaw asset management and after that JPMorgan’s investment decision bank until eventually he left the corporation in 2013, and Mary Erdoes, who operates asset and prosperity administration, took another perspective, and theirs prevailed.

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Dimon has resisted the carve-up of his have occupation. About 38% of JPMorgan shareholders voted to set up an independent chairman this 12 months. Probably the Epstein-induced reputational threat, when regarded as during the context of all the things else, will bring about greater aid for The concept.

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Even Given that authorized configurations usually lead to bouts of witness amnesia, it’s straightforward to think that JPMorgan has paid lots of hefty fines and settled so many lawsuits over time that its CEO would drop track of these. A lot more surprising is always that Dimon suggests he was scarcely aware of who Epstein was – a person who experienced roamed around Wall Street For a long time, owned Manhattan’s major townhouse and was sentenced to eighteen months in prison in 2008 for soliciting prostitution from the slight – until he was arrested eleven years later for sexual intercourse trafficking. Taken entirely, the case is an indication which the bank is just too huge for 1 individual to handle.

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