JPMorgan’s Cavanagh Enlists Rauchenberger to Aid Loss Response

JPMorgan Chase & Co. (JPM) executive Mike Cavanagh, appointed to oversee the firm’s response to a $2 billion trading loss, enlisted Lou Rauchenberger to help coordinate the project.

“He’ll be the point person organizing the meetings, structure and follow up,” Cavanagh, the chief executive officer of the bank’s treasury and securities services group, wrote in a memo to employees today. Rauchenberger works in that division and is on the firm’s executive committee, according to the New York-based bank’s website.

To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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