Jamie Dimon, chief executive of JPMorgan Chase, shook up his top management team yesterday as the bank’s $2bn trading loss claimed the scalp of Ina Drew, chief investment officer.
Mr Dimon turned to Matt Zames, the 41-year-old co-head of fixed income, to replace Ms Drew, whose division incurred the losses. She was the bank’s third highest paid executive last year with a $15m package.
Her pay and that of other executives will go to a shareholder advisory vote today when Mr Dimon is due to address investors in Tampa, Florida. It will be his first public appearance since last week’s revelation of large losses from trades on credit derivatives.
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