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February 12, 2014

John Mack Calls for an End to ‘Beating Up’ on Wall St. C.E.O.’s

“JPMorgan Chase touched off a round of criticism when it disclosed that it would give its chief executive, Jamie Dimon, a big raise for 2013, a year in which the bank paid billions to resolve legal problems. But another Wall Street titan came to Mr. Dimon’s defense on Tuesday.”

In an interview on Bloomberg TV, John J. Mack, the former chairman and chief executive of Morgan Stanley, called for an end to the harsh words that have been hurled at Mr. Dimon and Lloyd C. Blankfein, Goldman Sachs’s chief executive, over their pay. (The remarks begin at 5:23.)”

“He said he would love to see people ‘stop beating up on Lloyd and Jamie.’ He added: ‘I think that would make a lot of sense, and I’m in favor of that.'”

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Read full New York Times Dealbook article here.

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