Bob Hugin said he resigned from J.P. Morgan and was not fired from the bank as Bob Menendez’s campaign insinuated on Twitter Sunday.
“No, I did not,” Hugin said when asked if he was forced out of the firm. “I resigned. For three years, I was thinking about what I was going to do next.”
Hugin worked at J.P. Morgan for 14 years, from 1985 to April of 1999. He began working at Celgene later that year, in June.
Nothing that suggests any impropriety has been released publicly.
“Bob Hugin touts his record for taking a job at Celgene — a failing company with only 6 weeks of cash left,” said a tweet posted to the senator’s campaign account. “Isn’t it strange that @BobHugin, with a lucrative job at J.P. Morgan, suddenly left to take a job that no one else wanted? Why did you really leave? #Questions4Hugin #NJSen.”
Hugin strongly denied any wrongdoing, calling the Menendez campaign’s insinuations “totally ridiculous and slanderous.”
“I have never had any violation of any rule or anyone at any time, anybody who implies anything about my integrity or my honor is totally lying and disrespecting the facts,” Hugin told the New Jersey Globe on Sunday.
Menendez campaign isn’t likely to take Hugin at his word and is calling for him to approve the release of a U5 form J.P. Morgan would have had to file with the Financial Industry Regulation Authority (FINRA) if Hugin was registered with the body when he left the firm, regardless of the circumstances of that departure.
Unless an employee leaves voluntarily or dies, the filers must provide an explanation for the departure. This applies in cases where an employee is “allowed to resign.”
Such forms cannot be released publicly without the employee’s consent 10 years after they are filed.
Hugin suggested he would be willing to approve the release of his documents on file with FINRA.
“I’d have to look into it, but I’m just telling you as a fact, there is nothing in my history, anywhere, of doing anything without the highest integrity and standards. It has never been even implied that I did anything,” Hugin said. “I have absolutely to nothing hide, so I’d have no problem disclosing things if it fits with whatever appropriate standards are to do things.”
Hugin served as managing director and head of fixed-income syndicate at J.P. Morgan.