JPMorgan Chase Inc's hard-charging chief executive, Jamie Dimon, looked a bit more vulnerable on Friday after the bank took a $7.2 billion hit from penalties, expected future litigation and other legal matters, reporting its first quarterly loss since 2004.
The loss is a blow to Dimon, who has long used the bank's steady profit as a shield to ward off critics of its mounting regulatory and legal issues.
In unusually humble language for a CEO once lionized on Wall Street and in Washington, Dimon acknowledged that the first loss under his leadership was "very painful for me personally."
JPMorgan reported a loss of $380 million, or 17 cents per share, for the third quarter. A year earlier it posted a profit of $5.71 billion, or $1.40 a share.