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Mon May 14, 2012
Resignations Begin At JPMorgan After $2 Billion Loss
Originally published on Mon May 14, 2012 5:49 pm
JPMorgan Chase's chief investment officer resigned over the weekend and will retire. The bank made the announcement Monday morning, but didn't comment on other expected resignations. Last week JPMorgan surprised the markets with a $2 billion trading loss. That loss has revived interest in the Volcker Rule, which is supposed to reduce risk by prohibiting "proprietary trading."