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JPMorgan Shakes Up CIO Unit Leaders as Macris Hands Off Duties

JPMorgan Chase & Co.’s (JPM) Matt Zames, newly appointed to lead the firm’s chief investment office after it suffered a $2 billion loss, shook up the unit’s leadership and announced a “renewed focus” on hedging risks.

Achilles Macris, who was hired in 2006 to oversee trading in London where the losses occurred, will “transition” his CIO responsibilities, Zames said today in an employee memo obtained by Bloomberg News.

He named Rob O’Rahilly to lead the office in Europe, the Middle East and Africa, as Christopher Chan continues overseeing Asia, according to the memo. Marie Nourie will become the global group’s finance chief, and Chetan Bhargiri will join the unit as chief risk officer, reporting to John Hogan, the memo shows.

To contact the reporter on this story: Dawn Kopecki in New York at

To contact the editor responsible for this story: David Scheer at

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