JPMorgan’s Zames Said to Be Ready to Announce CIO Unit Shake-Up

JPMorgan’s Zames Said to Be Ready to Announce CIO Unit Shakeup
The JPMorgan Chase & Co. building in New York. Photographer: Jeremy Bales/Bloomberg

May 14 (Bloomberg) -- Matt Zames, the new head of JPMorgan Chase & Co.’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.

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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