Dimon buys $17m in JPMorgan shares

Jamie Dimon has bought more than $17m of shares in JPMorgan Chase in an apparent demonstration of confidence as federal authorities investigate a shock trading loss at the bank.

The JPMorgan chief executive and his wife Judy bought 500,000 shares this week, according to a filing with the Securities and Exchange Commission on Friday.

At an average price of $34.27, the purchase is worth about $17.1m, an unusually large buy for Mr Dimon, equivalent to most of his $23m annual pay and bonus. His total direct holdings in JPMorgan are now worth almost $110m and indirect positions are worth millions of dollars more.

Read Full Article from Financial Times

- Posted: 2012-07-22 06:04:28

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