Sunday, May 13, 2012

Three JPMorgan Execs Expected To Leave After $2 Billion Trading Disaster

Three JPMorgan Chase execs are expected to leave the bank this week following the $2 billion trading loss related to derivatives in the chief investment office in London, the Wall Street Journal reports.

Those high-ranking execs expected to leave include Ina Drew, a 30-year veteran of the bank who was head of risk management; Achilles Macris, who was the head of the desk that made the trades; and Javier Martin-Artajo, a managing director and trader on Macris' team, according the WSJ's sources. 
According to the paper's sources, credit derivatives trader Bruno Iksil, who became the so-called "London Whale" for his huge positions, is also likely to leave…..

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