JPMorgan senior executives set to resign
May 14 , 2012
Top executives at JPMorgan Chase are expected to resign this week following a $2 billion loss at the bank’s London trading desk.
According to the New York Times, chief investment officer Ina Drea along with two other unnamed high ranking executives are to step down.
Drew, one of the bank’s longest standing and best paid executives, had offered to leave several times since the extent of the losses became publicly known on Thursday night.
Shares in JPMorgan, the biggest U.S. bank in terms of assets, plummeted by 10 percent on Friday, stripping $14 billion off the company’s value.