Risk Management

Risk Management

by digby

Hmmm:

Heads are starting to roll at JPMorgan Chase in the wake of the bank’s staggering $2 billion trading loss.

Ina Drew, the global bank’s chief investment officer and one of the most powerful women on Wall Street, has reportedly resigned, along with two other top executives.

Drew, a close associate of bank president Jamie Dimon, ran the risk-management division that was responsible for the enormous losses. She made $15.5 million last year.

The Wall Street Journal said the other two ousted execs are Achilles Macris, who ran the London-based desk that placed the trades, and managing director Javier Martin-Artajo.

Bruno Michel Iksil, the French-born finacier nicknamed ‘Voldemort’ and ‘the London Whale’ who was directly responsible for the trades, was not reported to be on the list.

I wonder why I keep coming back to this flick every time I read another story about risk management?

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