JPMorgan CEO not invited to financial reform bill signing, newspaper report claims

21 July 2010

Jamie Dimon, JPMorgan’s chief executive officer (CEO), was not invited to attend a signing ceremony of the recently passed financial reform, newspaper reports have claimed.

According to Reuters, Mr Dimon was one of the few banking heads not in attendance at the signing of the new legislation.

He is thought to have not received an invitation to the event after vocalising his disproval of the government’s attempts to overhaul the financial services sector, the news provider stated.

Brian Moynihan, CEO at Bank of America, James Gorman, CEO at Morgan Stanley and Vikram Pandit, CEO at Citigroup are all thought to have been invited, a source familiar with the matter told Reuters, but only the latter was expected to attend.

The event took place in the Ronald Reagan Building, a amphitheatre with only enough seating room for 400 attendees, the White House explained.

Congress voted in favour of the financial reform bill during last week.

The Dodd-Frank legislation includes measures to provide the government with powers to unwind firms deemed ‘too big to fail’ as well as protecting taxpayer money from being used to bail out financial institutions.

By Jim Ottewill

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