Lee Raymond, who has been appointed to chair an investigation into JP Morgan’s multibillion dollar loss from the “London Whale” trade, is no stranger to dealing with corporate crises.

The 74-year old - described as "tough as nails" by a former colleague, according to The Wall Street Journal - is a former chief executive of oil giant Exxon Mobil where he most notably handled the 1989 Exxon Valdez oil spill when he served as president. He apologised at the time on ABC's "This Week with David Brinkley" for the "catastrophic spill." The spill contaminated miles of US coastline and killed hundreds of thousands of sea animals according to science journal, Nature. It cost Exxon Mobil $4.3bn in clean-up costs, compensation, settlements and fines, according to the company's website.