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Reply to "JP Morgan 2 billion dollar loss comes under fire by regulators"

Matt Zames, the head of global fixed-income at the investment bank, will take   over as chief investment officer. New York-based Ms Drew was one of JP   Morgan's highest-paid executives.

 

Three top executives involved with the huge loss which came to light last   week, including Ms Drew, were expected to leave the bank this week,   according to reports.

 

Two of Ms Drew's subordinates who were involved with the trades, London-based   Achilles Macris and Javier Martin-Artajo, are expected to be asked to leave,   according to Reuters.

 

Reports earlier today also suggested that the entire staff of JP Morgan's   chief investment office (CIO) in London is at risk of dismissal.

The departures come after the CIO, a unit Ms Drew was responsible for running,   mismanaged a large portfolio of derivatives tied to the creditworthiness of   bonds, according to bank executives.

http://www.telegraph.co.uk/fin...-after-2bn-loss.html

Sunil
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