JPMorgan’s New Investment Head Zames Shakes Up Office
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JPMorgan Chase & Co.’s Matt Zames, newly appointed to lead the bank’s chief investment office after the unit suffered a $2 billion loss, shook up leadership and announced a “renewed focus” on hedging risks.
Zames named new finance and risk chiefs and wrote in a staff memo that top London-based trading executive Achilles Macris would hand off duties. JPMorgan named Zames head of the office earlier today to succeed Ina Drew, whose retirement after the surprise loss marked the downfall of one of the highest-ranking women on Wall Street.