Jpmorgan Execs Tied To Big Trading Loss Are Expected To Leave Bank

Three employees involved in the unit at fault for the $2-billion blunder are said to be exiting as early as this week.The first heads are expected to roll as early as this week at JPMorgan Chase & Co., after the disclosure of a $2-billion trading loss that has rekindled fears about excessive risk taking on Wall Street.

Topics:  jpmorgan chase    co   wall   street   expected   trading loss   early   
BING NEWS:
  • Heads begin to roll at JPMorgan after losing £1.25bn in 'Voldemort' banker fiasco with two London execs shown the door
    Two London-based executives were forced out of crisis-hit JPMorgan Chase as heads begin to roll in the wake of the £1.25billion trading loss fiasco. Achilles Macris, who ran the London desk that made the botched trades, was expected to depart along with ...
    05/14/2012 - 4:32 am | View Link
  • JPMorgan executive Ina Drew steps down after trading loss
    JPMorgan Chase & Co sacrificed investment chief Ina Drew on Monday in response to trading losses that could reach $3 billion ... who the sources had also said were expected to leave. Neither could be reached for comment earlier on Monday.
    05/14/2012 - 2:19 am | View Link
  • JPMorgan replaces head of unit faulted for $2 billion loss
    Ina Drew, the JPMorgan Chase & Co. executive who headed the bank's unit responsible for a stunning $2 billion trading loss, will retire, the bank announced. Chief Investment Officer Drew will step down after more than 30 years with the bank, though the ...
    05/14/2012 - 1:00 am | View Link
  • JPMorgan execs set to leave, sources say
    REUTERS - Three top executives involved with a failed hedging strategy that cost JPMorgan Chase & Co (JPM.N) at least $2 billion and tarnished its reputation are expected to leave the bank ... He said the huge trading loss was not “life threatening ...
    05/13/2012 - 1:00 pm | View Link
  • UPDATE 2-JPMorgan execs expected to leave over loss-sources
    are expected to be asked to leave, according to the people familiar with the matter. Drew had repeatedly offered to resign after the bank discovered that its portfolio of derivatives tied to bonds was rapidly losing money and had grown too big to be ...
    05/12/2012 - 1:00 pm | View Link
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