Former Citi Chairman: JP Morgan's Trading Disaster 'Could Happen To Anyone'

Sam Ro
May 17, 2012, 9:40 PM

Business Insider:

Sir Winfred Bischoff, the Chairman of Lloyds, spoke at Lloyds annual shareholder meeting yesterday.


He addressed JP Morgan's recent $2 billion (or $3 billion) trading loss. From The Guardian's Simon Neville:

"I'm a great fan of Jamie Dimon [JP Morgan chief executive]. But my concern is if it can happen to JP Morgan, which has such a good risk culture, it could happen to anyone."

Bischoff previously served as the Chairman of Citigroup board of directors from 2007 to 2009.