JPMorgan chief investment officer leaving
By PALLAVI GOGOI, Associated Press
May 14, 2012 8:19 AM CDT
FILE - In this Feb. 11, 2009 file photo, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon, center, flanked by Goldman Sachs & Co. Chief Executive Officer and Chairman Lloyd C. Blankfein, left, and Bank of New York Mellon Chairman Chief Executive Officer Robert Kelly, are seen on Capitol Hill...   (Associated Press)

JPMorgan Chase says its chief investment officer is retiring after a $2 billion trading blunder.

The bank says Ina Drew will leave after more than 30 years at the company. She oversaw the trading group responsible for the bad trade.

JPMorgan says Matt Zames, the bank's co-chief of global fixed income in its investment bank, will take Drew's place.

The trading mistake has hammered JPMorgan's stock price and complicated its efforts to fight regulatory changes after the financial crisis.

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