Photo: CNN Money via JPMorgan Chase
Three JPMorgan Chase executives 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.
Last week, JPMorgan disclosed the trading loss in the bank’s 10-Q filing and shortly after chief executive Jamie Dimon held a surprise conference call where he said it was an “egregious error.”
Following the news of the massive trading loss, shares of JPMorgan tumbled 9.28 per cent on Friday to close at $36.96.
Watch Below: The Fallout From JP Morgan’s $2 Billion Loss
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