JPMorgan chief investment officer steps down after $2 billion loss
May 15 , 2012
JPMorgan Chase’s chief investment officer has stepped down following a $2 billion trading blunder at its London office.
Ina Drew will leave the Wall Street firm after working there for more than 30 years.
Drew reportedly offered to resign several times after the losses were publicly disclosed last Thursday.
The trading loss was revealed in a regulatory filing.
JPMorgan’s shares opened down a further 3 percent on Monday after falling almost 10 percent by the end of trade on Friday.