November 5, 2019 / 4:14 PM / 11 days ago

JPMorgan CEO says lessons learnt from failed WeWork IPO

FILE PHOTO: JPMorgan Chase CEO Jamie Dimon is pictured at the North America's Building Trades Unions (NABTU) 2019 legislative conference in Washington, U.S., April 9, 2019. REUTERS/Jeenah Moon/File Photo

NEW YORK (Reuters) - JPMorgan Chase & Co (JPM.N) Chief Executive Officer Jamie Dimon defended the bank’s work advising WeWork on its failed effort to go public, but added that the bank learned lessons from the experience.

“I do think we helped WeWork get to a proper conclusion” but there were “a lot of lessons to be learned on the way,” Dimon said in an interview on CNBC. “I’ve learned a few myself.”

“Companies going public should have proper corporate governance before they go public,” said Dimon, who is also chairman of JPMorgan Chase, which was the lead of the investment bank advising WeWork on its attempted IPO this year.

Reporting By Elizabeth Dilts Marshall; Editing by Chizu Nomiyama

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