|Stephen M. Cutler|
|Employer||JPMorgan Chase & Co.|
Stephen M. Cutler is the vice chairman of JPMorgan Chase & Co. where he acts as a senior advisor to CEO Jamie Dimon and the company's board. The vice chairman post was vacated due to the death of JPMorgan's famed deal-maker Jimmy Lee. After helming JPMorgan's legal and regulatory efforts in the wake of 2008's financial crisis, Cutler cited the desire to try something different.
Earlier in his career, Cutler was the director of the U.S. Securities and Exchange Commission's Division of Enforcement.
Before becoming vice chairman in July 2015, Cutler served as JPMorgan Chase's executive vice president and general counsel starting in 2007. During his tenure as general counsel, Cutler was responsible for helping negotiate a $13 billion dollar settlement with the U.S. Justice Department regarding JPMorgan's mortgage securities practices as well as a $1 billion settlement over JPMorgan's actions in a $6 billion trading loss known as the "London Whale."
Cutler was the director of the SEC's Division of Enforcement from 2001-2005 where he managed the investigations of WorldCom and Enron.
At a panel discussion three days after the $13 billion settlement with the U.S. government, Cutler prompted some debate when objecting to the size of the fines levied on JPMorgan and other banks, remarking, “At what point does this stop?".
Cutler is regarded as a hard-nosed negotiator and litigator. Then Associate Attorney General Tony West, the Justice Department's lead negotiator in the mortgage securities case said, "Steve is a worthy adversary."
But, as a former regulator who called for increased accountability, Cutler faced some scrutiny as JPMorgan's lead counsel since, as the New York Times said in 2013, JPMorgan's headlining legal entanglements (Libor rate fixing, bad mortgage securities, energy market manipulation and failure to reveal suspicions about Bernie Madoff's Ponzi scheme) all "happened on Mr. Cutler's watch."
Cutler received a B.A. from Yale University and his J.D. from Yale Law School.
- Stephen Cutler, JPMorgan’s General Counsel, to Become Vice Chairman. The New York Times.
- Meet JPMorgan's newest vice chairman—a former SEC director who investigated Enron and WorldCom. The New York Times.
- Stephen M. Cutler Bio. Yale University.
- J.P. Morgan Taps New Top Lawyer. Business Insider.
- When Trying to Follow Rules Isn’t Enough. The New York Times.
- Stephen Cutler Has A Point About The Increasing Size Of Settlements. Forbes.
- J.P. Morgan Lawyer Criticizes Big Bank Fines. The Wall Street Journal.
- Stephen M. Cutler Executive Profile. Bloomberg.