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Another Woman Loses a Top Spot on Wall Street

Another Woman Loses a Top Spot on Wall Street
Photograph by Anders Hviid/GalleryStock

Add Ina Drew to the list of prominent Wall Street women who have left their jobs. JPMorgan Chase said today that Ina Drew, head of the bank’s chief investment office, is retiring, following the disclosure of a $2 billion trading loss. The bank’s chief executive, Jamie Dimon, had urged her unit, which invests the bank’s cash, to make riskier bets to boost profits, Bloomberg News reported, citing five former executives. Drew had a 30-year career at the bank and rose to be one of two women who were part of the bank’s powerful operating committee.

The ranks of female execs on Wall Street were thin even before the financial crisis, and Drew’s exit follows a string of female executive departures. In June of last year, another Dimon lieutenant, Heidi Miller, the former head of JPMorgan Chase’s international operations, announced plans to leave the bank. Last fall, Sallie Krawcheck, who ran Bank of America’s wealth management division, left the bank as part of a management reorganization. She got a $6 million severance package and stayed out of the public eye for months until reemerging this spring as a frequent tweeter.