Dimon loads up on JP Morgan stock

摘要

JP Morgan boss Jamie Dimon has joined peers from santander, citigroup, barclays and standard chartered in putting his money where his mouth is and buying company stock. But considering the scale of the sell-off across banking stocks, Dimon's US$26.6m purchase of JP Morgan stock stands out for its size. The JP Morgan chairman and chief executive is the highest profile banker of this generation - and also one of the wealthiest. After a 20% fall in the US bank index and JP Morgan shares during the first six weeks of this year, Dimon bet they were overdue a rally and bought 500,000 JP Morgan shares on February 11 at an average price of US$53.18. That helped spark a rally, and both the US bank index and JP Morgan shares have jumped about 9% since.