Jamie Dimon, JPMorgan Chase CEO, on Wednesday attacked as “a terrible idea” the practice of investment banks committing to pick up equity in LBOs that private equity firms cannot sell on to other investors. Mr Dimon said the provision of so-called equity bridges was bad for banks and private equity firms. As JPMorgan announced a 21 per cent jump in second-quarter earnings to $4.2bn, Mr Dimon sought to calm fears about the impact of problems in the US subprime mortgage sector and the leveraged lending market.

This entry was posted by Gwen Robinson on Thursday, July 19th, 2007 at 5:36 and is filed under Capital markets, M&A, People, Private equity. Tagged with jamie dimon, jpmorgan. Edit this entry.