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Report: Three to leave Chase over massive losses

UPDATE 5:47 P.M. EDT: We have a New York Times profile of Ina Drew here.

The Wall Street Journal is reporting that three high-ranking employees at JP Morgan Chase are expected to leave this week following the disclosure the largest American bank sustained at least $2 billion in losses.

The Journal identified Ina Drew, Achilles Macris and Javier Martin-Artajo as the three and gave their responsibilities as follows:

  • Drew runs the risk management unit that sustained the losses.
  • Macris is in charge of the team that placed the trades.
  • Martin-Artajo is a managing director on Macris' team.

The departures could be announced before the bank's annual meeting Tuesday, a source told the Journal.

Previously: Chase says bank was 'dead wrong' to dismiss trading concerns