Three JPMorgan executives to leave this week on $2b loss, sources say
China Daily | Updated: 2012-05-15 07:54
Three top executives involved with a failed hedging strategy that cost JPMorgan Chase & Co at least $2 billion and tarnished its reputation are expected to leave the bank this week, sources close to the matter said on Sunday.
The bank - the biggest in the United States by assets - is expected to accept the resignation of Ina Drew, its New York-based chief investment officer and one of its highest-paid executives, in the next few days, the sources said.
Two of Drew's subordinates who were involved with the trades, London-based Achilles Macris and Javier Martin-Artajo, are expected to be asked to leave, they said.
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