FOX Business Network’s (FBN) Senior Correspondent Charlie Gasparino reports that “there is no move to oust” JPMorgan Chase & Co (NYSE:JPM) General Counsel Stephen Cutler over the London Whale scandal. Gasparino went on to report, that Cutler “is very well respected by both the board and” JPMorgan Chase & Co (NYSE:JPM) Chairman and CEO Jamie Dimon.
Excerpts from the report are below.
On whether JPMorgan’s General Counsel Stephen Cutler is in the hot seat:
“Sources are telling the FOX Business Network that you would think the General Counsel Steve Cutler would be on the hot seat, he is not from what we are hearing. Remember this is the guy – I’ve known Steve Cutler for a long time. Really good – I would say a good enforcement attorney, lead the enforcement division at the SEC. He’s a very good lawyer. He’s been there since I think ’93 or ’94, so he’s been there awhile. You would think he would be in the hot seat, but from what I understand, he’s not. He is very well respected by both the board and Dimon, so despite the headlines – he is starting to get in the headlines. There is no move to oust him.”