BUSINESS
01/09/2013 11:59 am ET

Jamie Dimon: JPMorgan Executives 'Acted Like Children' After London Whale Loss

Jamie Dimon isn't happy with some of his employees.

The CEO of JPMorgan Chase chastised his own executives on Monday, deriding the way some of his top employees handled the bank's "London Whale" trading loss last year, which cost the bank $6.2 billion and brought unwanted scrutiny from the government and media.

"Instead of helping, they were running around with their head chopped off. 'What does this mean for me personally? How's my reputation?'" Dimon said at a JPMorgan conference, Bloomberg reports. Overall, they "acted like children," he said.

In Dimon's view, multiple executives "felt they could take advantage of it personally; they were willing to hurt the company by maneuvering," according to Bloomberg. He added that JPMorgan now has the "best management team I've ever had in my entire life." The bank launched an internal investigation into the losses two months after the CEO disclosed the news.

JPMorgan's top management has been in flux in the wake of the scandal. Ina Drew, JPMorgan's chief investment officer, who oversaw the unit responsible for the loss, resigned from the company after the "London Whale" scandal. And Jes Staley, who headed JPMorgan's investment bank unit, is leaving for a hedge fund that benefited from the "London Whale" losses, The Wall Street Journal reported Tuesday. But the bank's helm has stayed steady, and Dimon has shown no signs of stepping down as CEO, a title he has held since the end of 2005.

Dimon, known for speaking his mind, has continued to rail against financial regulation even after JPMorgan's massive trading loss. Soon after the news broke, he said that regulation "should be done in the right way -- in my opinion, in closed rooms." Then in December, he said that Wall Street pay limits would put "free society" at risk.

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