DEMOTED: JP Morgan CIO Chief Risk Officer

Right Whale reports Irvin Goldman, who yesterday was replaced as chief risk officer at JP Morgan’s chief investment office, will stay on as an adviser to the new head of the CIO.

At first all we could say about this was: What?

But then again, he may know more than anyone else at the firm about unwinding the trade that lost JP Morgan $2 billion.

And to be fair, Goldman had only been on the job three months at the time the London Whale portfolio blew up, according to FINS’ Julie Steinberg. She adds that “Goldman’s title and responsibilities may shift over time,” so it sounds like he’s staying put.  

Meanwhile, the fate of John Hogan, who became chief risk officer of the entire firm in January and who placed Goldman, remains unclear.

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