AP source: Top JPMorgan Chase official expected to resign

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.
jp morgan

NEW YORK (AP) — A source tells The Associated Press that JPMorgan Chase is expected to accept the resignation of a high-ranking executive soon. The decision comes after one of the bank’s trading groups lost $2 billion.

A person familiar with the matter tells the AP that the bank is expected to accept the resignation of Ina Drew. She is the bank’s chief investment officer.

The source spoke on condition of anonymity because the person was not authorized to discuss it publicly.

The source says at least two other executives at JPMorgan will be held accountable for the trading blunder.