Daily News: January 27, 2014

WSJ: J.P. Morgan’s Dimon, Ex-Ally Settle Hiring Dispute

The Wall Street Journal reported JPMorgan Chase Chief Executive James Dimon and a former top lieutenant agreed to a multimillion-dollar resolution of a hiring dispute involving the largest U.S. lender, a giant private-equity firm and two Wall Street veterans.

The Journal said further Frank Bisignano, a former ally of Dimon who left the bank last April to run a payment processor — First Data — owned by private-equity firm KKR, agreed with KKR that his firm will pay millions to JPMorgan, citing a source familiar with the situation. First Data is expected to pay less than $10 million to the bank, according to the Journal source.

To read the entire Journal article, click here.