Reuters – JPMorgan Chase & Co. Chief Investment Officer Ina Drew is retiring — the first casualty after the bank suffered trading losses that could reach more than $3 billion and that have sparked an investigation by U.S. securities regulators.
In Ms. Drew’s place, the bank on Monday [May 14] named Matt Zames, a trader by background who is well versed in risky financial bets. He was at one time employed at Long-Term Capital Management, whose 1998 collapse nearly caused a global crisis.
