JPMorgan Exec Exits Expected

The entire London staff of the bank's chief investment office may be at risk.

The entire London staff of JPMorgan Chase & Co.’s chief investment office is at risk of dismissal as a $2 billion trading loss prompts the first executive departures as soon as this week, a person familiar with the situation said.

Ina Drew, who oversees the unit, may resign as soon as this week, according to another person, who requested anonymity because the deliberations are private. Joseph Evangelisti, a bank spokesman, said Drew would have no comment. While the firm is examining whether anyone in the unit, which employs a few dozen people in London, sought to hide risks, there isn’t yet evidence that’s the case, one of the people said.

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments

Advertisement. Closing in 15 seconds.