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Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!

 
Anonymous Coward
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05/13/2012 05:00 PM
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Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
[link to online.wsj.com]

Three high-ranking people are expected to leave J.P. Morgan Chase JPM & Co. this week, said people familiar with the situation, in the latest fallout from a trading blunder that has cost the bank at least $2 billion.

The departures involve three of the highest-ranking executives with direct connections to the losses, according to the people familiar. Those leaving are Ina Drew, who since 2005 has run the risk-management unit that is responsible for the losses; Achilles Macris, who is in charge of the London-based desk that placed the trades; and trader Javier Martin-Artajo, a managing director on Mr. Macris' team, the people said.
ExpertOfSound

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05/13/2012 05:01 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
bump
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Anonymous Coward
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05/13/2012 05:01 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
clappa
Anonymous Coward (OP)
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05/13/2012 05:01 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
They are bailing the ship....
Anonymous Coward
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05/13/2012 05:02 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
JUMP! JUMP! JUMP!
Anonymous Coward
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05/13/2012 05:03 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
oh no.

how will their families cope on the dole?
Anonymous Coward
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05/13/2012 05:03 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
Ahahaha... you got yur butt kicked by n AC
Anonymous Coward (OP)
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05/13/2012 05:03 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
Ahahaha... you got yur butt kicked by n AC
 Quoting: Anonymous Coward 14259671


LOL that actually was my thread.... I forgot to sign in...
Anonymous Coward
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05/13/2012 05:04 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
:whogivesafuck:
Anonymous Coward (OP)
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05/13/2012 05:05 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
Ina Drew, 54, is considered one of the most powerful women on Wall Street and has been at the head of JP Morgan Chase's London-based Chief Investment Office since February 2005.

Regarded as a key lieutenant of chief executive Jamie Dimon, she was effectively in charge of Bruno Michel Iksil, the Frenchman nicknamed 'Voldemort' and 'the London Whale'.

She received a cash bonus of $4.7m, a share award of $7.1m, options worth $1.5 million and a base salary of $750,000, according to regulatory filings by the bank."
Anonymous Coward (OP)
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05/13/2012 05:05 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
:whogivesafuck:
 Quoting: SupremaZAZZ


stfu
Anonymous Coward
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05/13/2012 05:07 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
Na, it's a common practice, Banks of that caliber do NOT accept loses. This is normal
Craft
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05/13/2012 05:08 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
And that's the why the cookie crumbles. . .
Anonymous Coward
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05/13/2012 05:08 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
:whogivesafuck:
 Quoting: SupremaZAZZ


stfu
 Quoting: ***ClappaGuy***


Big deal...so they get 3 new people to replace them...

No news here...

If you don't perform, you're out!!!!
Anonymous Coward
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05/13/2012 05:08 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
And that's the way the cookie crumbles. . .
 Quoting: Craft 9682582
Anonymous Coward (OP)
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05/13/2012 05:09 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
Na, it's a common practice, Banks of that caliber do NOT accept loses. This is normal
 Quoting: Tanarus


It can be seen in different perspectives. In this case I think they are just bailing from bigger disaster....
Anonymous Coward
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05/13/2012 05:09 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
They are bailing the ship....
 Quoting: ***ClappaGuy***


Likely, they were "asked to resign" (let go) in light of the "faulty hedge strategy."
Anonymous Coward
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05/13/2012 05:09 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
Thanks guys.....for raping our public! Come again!
Anonymous Coward (OP)
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05/13/2012 05:10 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
:whogivesafuck:
 Quoting: SupremaZAZZ


stfu
 Quoting: ***ClappaGuy***


Big deal...so they get 3 new people to replace them...

No news here...

If you don't perform, you're out!!!!
 Quoting: SupremaZAZZ


You don't understand, when TOP EXECS are leaving it's because they are cutting loose... "getting away"
Anonymous Coward
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05/13/2012 05:10 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
[link to online.wsj.com]

Three high-ranking people are expected to leave J.P. Morgan Chase JPM & Co. this week, said people familiar with the situation, in the latest fallout from a trading blunder that has cost the bank at least $2 billion.

The departures involve three of the highest-ranking executives with direct connections to the losses, according to the people familiar. Those leaving are Ina Drew, who since 2005 has run the risk-management unit that is responsible for the losses; Achilles Macris, who is in charge of the London-based desk that placed the trades; and trader Javier Martin-Artajo, a managing director on Mr. Macris' team, the people said.
 Quoting: ***ClappaGuy***


bsflag
Anonymous Coward
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05/13/2012 05:10 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
They have stolen thier money now they are off to thier private islands.

But what use is money when we as a population stop using it?
Anonymous Coward
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05/13/2012 05:10 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
[link to online.wsj.com]

Three high-ranking people are expected to leave J.P. Morgan Chase JPM & Co. this week, said people familiar with the situation, in the latest fallout from a trading blunder that has cost the bank at least $2 billion.

The departures involve three of the highest-ranking executives with direct connections to the losses, according to the people familiar. Those leaving are Ina Drew, who since 2005 has run the risk-management unit that is responsible for the losses; Achilles Macris, who is in charge of the London-based desk that placed the trades; and trader Javier Martin-Artajo, a managing director on Mr. Macris' team, the people said.
 Quoting: ***ClappaGuy***


bsflag
 Quoting: Anonymous Coward 15990760


yea the wall street journal is lying...

my god you're a douche bag
11.11.11

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05/13/2012 05:11 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
Take The Money And Run! You can run, but you can't hide!






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Last Edited by ..11:11.. on 05/13/2012 05:12 PM
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Anonymous Coward
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05/13/2012 05:11 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
so if morgan lost $2-4.2b who gained that amount?
))BAPHOMET((

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05/13/2012 05:11 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
Na, it's a common practice, Banks of that caliber do NOT accept loses. This is normal
 Quoting: Tanarus


It can be seen in different perspectives. In this case I think they are just bailing from bigger disaster....
 Quoting: ***ClappaGuy***


Well, i think this takes the total to about 614 banker resignations in 2012.

Somethings up for sure, they know what it is and i guess we'll find out once the shit hits the fan.
If normality is the measure of how well adjusted one is to a profoundly sick society,
then i dont ever want to be normal.
Anonymous Coward
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05/13/2012 05:12 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
Ship is a sinking Better jump now while you still can!shark
Anonymous Coward
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05/13/2012 05:14 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
so if morgan lost $2-4.2b who gained that amount?
 Quoting: Anonymous Coward 12967179


these things are never explained to the unwashed masses.
Athena Awakened

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05/13/2012 05:14 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
Na, it's a common practice, Banks of that caliber do NOT accept loses. This is normal
 Quoting: Tanarus


It can be seen in different perspectives. In this case I think they are just bailing from bigger disaster....
 Quoting: ***ClappaGuy***


Well, i think this takes the total to about 614 banker resignations in 2012.

Somethings up for sure, they know what it is and i guess we'll find out once the shit hits the fan.
 Quoting: ))BAPHOMET((


bump
"If ever a time should come, when vain and aspiring men shall possess the highest seats in Government, our country will stand in need of its experienced patriots to prevent its ruin.” Samuel Adams, 1776
Anonymous Coward (OP)
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05/13/2012 05:16 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
so if morgan lost $2-4.2b who gained that amount?
 Quoting: Anonymous Coward 12967179


It is my understanding that the trade is still ON, the position is moving against them and they can't unwind it. When are they gonna start talking about that?
Anonymous Coward
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05/13/2012 05:18 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
Crap, I should pull my money out of Chase.

And they are leaving w/their golden parachutes, how nice.
imalatewhiterabbit

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05/13/2012 05:19 PM
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Re: Breaking News: THREE TOP EXECS LEAVING JP MORGAN!!!
Someone dust of the guillotines.

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