May 13, 2012
Three to Exit J.P. Morgan After Losses
Three high-ranking people are expected to leave J.P. Morgan Chase JPM -9.28%& Co. this week, said people familiar with the situation, in the latest fallout from a trading blunder that has cost the bank at least $2 billion.
The departures involve three of the highest-ranking executives with direct connections to the losses, according to the people familiar. Those leaving are Ina Drew, who since 2005 has run the risk-management unit that is responsible for the losses; Achilles Macris, who is in charge of the London-based desk that placed the trades; and trader Javier Martin-Artajo, a managing director on Mr. Macris' team, the people said.
Ms. Drew has offered to resign multiple times and that request will likely be accepted this week, these people said. She is expected to leave as soon as Monday, the people said.
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