JPMorgan’s James “Jes” Staley, who was chair of the investment bank, has been hired by BlueMountain Capital, CNBC’s Kate Kelly reported.BlueMountain is a $12 billion hedge fund founded by JPMorgan alum Andrew Feldstein.
But get this…
BlueMountain Capital is the hedge fund that was on the other side of disastrous so-called “London Whale” trade that lost JPMorgan $5.6 billion last year.
BlueMountain’s flagship fund was up more than 10% last year, according to CNBC.
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