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BANKING

Dimon and Gorman’s return to the Houses of Morgan

After brief illnesses, JPMorgan’s Jamie Dimon and Morgan Stanley’s James Gorman were back on form in this month’s earnings calls.

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The US bank earnings reporting season would be a poorer place without the involvement of Jamie Dimon and James Gorman, the chief executives of the two Houses of Morgan. And so, JPMorgan CFO Jen Piepszak was surely speaking for more than just her colleagues when she told analysts at the start of her first-quarter earnings call on April 14 that "we're just thrilled that he is back".

Dimon, 64, had had emergency heart surgery in March. Gorman, 61, had tested positive for Covid-19 in the middle of the month, but avoided serious symptoms and was able to work from isolation at home. He circulated a video to staff in early April telling them he had recovered.

By earnings time, both were fighting fit.

Gorman always kicks off Morgan Stanley's presentation before handing over to CFO Jon Pruzan. At JPMorgan Piepszak presents the prepared remarks alone, Dimon usually sitting with the quiet menace of a shaken can of soda, waiting for the moment to burst into the Q&A.