JPMorgan’s Zubrow to Retire in Wake of CIO’s Trading Loss
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JPMorgan Chase & Co.’s Barry Zubrow, who oversaw risk management while the bank amassed credit-derivative bets that led to a multibillion-dollar trading loss, will retire at the end of this year.
“Now is the right time in my life” to retire, Zubrow, 59, wrote to colleagues in a note today. “We have learned from the mistakes of our recent trading losses.” The contents of the note were confirmed by Joe Evangelisti, a spokesman for the New York-based bank.