Ina Drew, one of the top women on Wall Street, is expected to resign from JPMorgan Chase today after overseeing the London office responsible for the bank’s stunning $2 billion loss, the New York Times reports:
Ina Drew, a 55-year-old banker who has worked at the company for three decades and is the chief investment officer, has offered to resign and will step aside Monday, said several bank executives who would not speak publicly because the resignations had not been completed.
Her exit would be a precipitous fall for a trusted lieutenant of Mr. Dimon. Last year, Ms. Drew earned roughly $14 million, making her the bank’s fourth-highest-paid officer. From her desk in Manhattan, she oversaw the London office that assembled the trade, a growing unit that oversees a portfolio of nearly $400 billion. Two traders who worked for Ms. Drew are also likely to leave shortly. Ms. Drew was not available for comment.
The Wall Street Journal reports that Achilles Macris, who was responsible for the London trading in question, and trader Javier Martin-Artajo will also resign.
