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JPMorgan’s Ina Drew to Retire

Matt Zames, head of global fixed income, succeeds Drew as chief investment officer.

By Michael J. Moore and Bradley Keoun, Bloomberg | Updated on May 14, 2012

JPMorgan Chase & Co. said Chief Investment Officer Ina Drew will retire after the firm suffered a $2 billion trading loss, marking the downfall of one of the highest-ranking women on Wall Street.

Matt Zames, the 41-year-old head of global fixed income in the investment bank, will succeed Drew as CIO, New York-based JPMorgan said today in a statement. The entire London staff of the bank’s chief investment office, where the loss occurred, is at risk of dismissal, a person familiar with the situation said.

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