JPMorgan’s Dimon Hires His Father

OK, it's Saturday, I deserve some relaxation after all the depressing and horrifying news I've been reading and spreading around. So here's some late Saturday type of news:

Nov. 7 (Bloomberg) -- If Jamie Dimon ever needs fatherly advice, he can turn to his newest employee: Dad.

Theodore “Ted” Dimon, the 78-year-old father of JPMorgan Chase & Co.’s chief executive officer, quit Bank of America Corp.’s Merrill Lynch unit yesterday to join his son’s firm [...].

The elder Dimon and his five-member broker team will join Bear Stearns Private Client Services, a unit acquired by his son in the March 2008 takeover of the failed investment bank. He will report to Michael Lee, head of the unit’s New York office.

More in the full report.