JPMorgan’s Zames Said to Be Ready to Announce CIO Unit Shake-Up
Matt Zames, the new head of JPMorgan Chase & Co. (JPM)’s chief investment office, may announce a shake-up of the unit after the bank reported a $2 billion trading loss, according to a person familiar with the matter.
Zames’s, 41, who replaced Ina Drew as head of the office that oversees $360 billion, could announce changes as early as today, said the person, who asked not to be identified because the information isn’t public.
To contact the reporter on this story: Steven Crabill in New York at scrabill@bloomberg.net
To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net
JPMorgan’s Zames Said to Be Ready to Announce CIO Unit Shakeup
Jeremy Bales/Bloomberg
The JPMorgan Chase & Co. building in New York.
The JPMorgan Chase & Co. building in New York. Photographer: Jeremy Bales/Bloomberg
May 14 (Bloomberg) -- Simon Johnson, a professor at the Massachusetts Institute of Technology and a former economist at the International Monetary Fund, talks about the outlook for JPMorgan Chase & Co. following the disclosure the company suffered a $2 billion trading loss. Johnson, speaking with Deirdre Bolton on Bloomberg Television's "In the Loop," also discusses the prospects Greece will exit the euro. (Source: Bloomberg)
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