JPMorgan Chase & Co. (JPM:US) Chief Executive Officer Jamie Dimon has the experience needed to manage the fallout from trading losses, and market disruptions haven’t been serious, Bank of America Corp. CEO Brian Moynihan said today.
Markets behaved “reasonably well” given the circumstances after Dimon disclosed more than $2 billion in trading losses at his bank’s chief investment office, Moynihan said today at an investor conference in Manhattan. Dimon has shown that he has the skills to handle the affair, said Moynihan, whose Charlotte, North Carolina-based bank ranks second behind New York-based JPMorgan.
“He’ll manage through it and do what he needs to do for the company,” Moynihan said of Dimon.
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