JPMorgan has cut nearly two-dozen people in a group responsible for preventing traders from making risky bets
|06/15/2019||Posted by BusinessMediaguide.Com under General World News||
- JPMorgan Chase has cut more than 20 people in a group responsible for preventing traders from making risky bets.
- Nearly two-dozen executive directors in the bank’s Model Risk Governance & Review Group were culled this month, according to people familiar with the matter.
- The group, which is in charge of overseeing and independently reviewing the firm’s risk and trading models, grew significantly following the bank’s 2012 “London Whale” trading debacle and ensuing sanctions from the Federal Reserve.
- The Fed last week lifted its enforcement action against the bank.
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