Photo: Bloomberg TV
Two Wall Streeters made some pretty funny London Whale and the Vampire Squid jokes at a hospital benefit last night.JPMorgan Chase & Co. investment-banking chairman Jes Staley, who was receiving an award for corporate leadership, took a dig at Goldman chief Gary Cohn, invoking the bank’s “giant vampire squid” moniker, Bloomberg’s Amanda Gordon reports.
Staley was honored in the marine life hall of the NYC’s natural history museum, a room that features a 94-foot replica of a blue whale fastened to the ceiling. Cohn is the chairman of the advisory board of the event’s beneficiary, the NYU Langone Medical centre’s.
While accepting his award, Staley suggested the whale be replaced by a “giant vampire squid,” referring to the nickname Rolling Stone Magazine gave Goldman Sachs.
“I’ve had to sit here all night staring at a whale,” Staley joked.
The so-called “London Whale trades” made from JPM’s Chief Investment Office cost the bank $5.8 billion.
Cohn diffused any hint of tension between the two banks after Staley spoke by making a joke in his own speech.
“I’ve never been more comfortable in a room full of JP Morgan people in my life,” he said.
It’s nice to know these things can become funny…eventually.
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