JPMorgan Chase & Co. said Chief Investment Officer Ina Drewwill retire after the firm suffered a $2 billion trading loss,marking the downfall of one of the highest-ranking women on WallStreet.

Matt Zames, the 41-year-old head of global fixed income in theinvestment bank, will succeed Drew as CIO, New York-based JPMorgansaid today in a statement. The entire London staff of the bank'schief investment office, where the loss occurred, is at risk ofdismissal, a person familiar with the situation said.

Chief Executive Officer Jamie Dimon, 56, announced the loss May10, assailing his firm's handling of trading in synthetic creditsecurities as “flawed, complex, poorly reviewed, poorly executedand poorly monitored.” JPMorgan is examining whether anyone in theunit, which employs a few dozen people in London, sought to hiderisks, though there isn't yet evidence that's the case, the personsaid.