JPMorgan CEO Dimon 'feeling fine' with cancer treatment, CFO says

Tue Sep 9, 2014 4:21pm EDT
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NEW YORK (Reuters) - JPMorgan Chase & Co CEO Jamie Dimon is "feeling fine" with his treatment for throat cancer and is continuing to be involved with the business, the company's chief financial officer said on Tuesday.

"It is not a trivial thing that he is doing... but actually, he is feeling fine if not a little hoarse and raspy," CFO Marianne Lake said in response to a question at an investor conference.

Lake said that Dimon would have liked to have spoken at the conference. Dimon has curtailed his travel and public appearances while undergoing chemotherapy and radiation treatments for throat cancer, which he disclosed on July 1.

Lake said that because Dimon is not traveling, he seems to have more time to talk to bank executives and be involved with the business.

Lake, who took questions on a range of topics, also predicted that the company's spending for risk controls and regulatory requirements will peak this year.

JPMorgan increased annual spending on controls by $2 billion from 2012 to 2014 and assigned 10,000 more people to new tasks in response to its $6.25 billion "London Whale" derivatives trading loss and findings from regulators that its money- laundering controls were deficient.

Lake said she was confident that some tasks were done inefficiently in the push to upgrade systems. The company should be able to cut back on the spending next year without undoing the work, she said. She did not say how much the spending could be reduced.

JPMorgan is the biggest U.S. bank by assets.

(Reporting by David Henry in New York; Editing by Dan Grebler)

JPMorgan Chase Chairman and CEO Jamie Dimon speaks during a discussion on "Closing the Workforce Skills Gap", at the Aspen Institute in Washington December 12, 2013. REUTERS/Mike Theiler