Three top-ranking JPMorgan executives to resign following $2 billion trading loss
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Washington, May 14 (ANI): Three top-ranking executives could leave their jobs at JPMorgan Chase after the bank lost about two billion dollars in a trading blunder.
Sources close to the situation have said that one of the executives likely to leave is Ina Drew, who has run the risk-management division at the bank that is responsible for the loss over seven years.
The other two are an executive in charge of the London desk that looked into the trades and a managing director of that team, Los Angeles Times reports.
CEO Jamie Dimon disclosed the two billion dollars loss by saying: "We made a terrible, egregious mistake," adding, "There's almost no excuse for it."
Dimon said the bank is open to inquiries from regulators. He has also promised to reach to the bottom of what happened and learn from the mistake.
The loss has been an embarrassment for the bank and led lawmakers and critics of the banking industry to call for tougher regulation of Wall Street. (ANI)
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