Photo: via JPMorgan
JPMorgan’s chief financial officer Douglas Braunstein is expected to step down from his post sometime in the next two quarters, the Wall Street Journal first reported. According to the report, Braunstein, 51, who has held the CFO role since 2010, is expected take on a different role at the bank. It’s unclear what that role will be, though.
Braunstein previously reported to JPMorgan CEO Jamie Dimon. Following the $5.8 billion trading loss earlier this year, he started reporting to Matt Zames, 41, who became the bank’s co-chief operating officer after the trading loss.
Braunstein initially dismissed the so-called “London Whale” during a conference call in April saying they were comfortable with their positions, the report said.
According to his bio [.PDF], he was previously the head of JPMorgan’s Investment Banking Division. Before that he was the head of JPMorgan’s Investment Banking Coverage and head of Global Mergers and Acquisitions.
He holds a bachelor’s degree from Cornell. He earned his J.D. from Harvard Law School.