The aftermath of a $2 billion trading loss at JPMorgan Chase & Co., continues to spread both in and outside the company.
The financial services provider recently announced that it lost more than $2 billion as a result of failed investment strategies. At the center of the loss was the use of a so-called value at risk calculation that gave the bank's central investment unit a lower risk assessment of its trades.
According to published reports, JPMorgan was able maintain a separate risk monitoring set-up with the chief investment unit reporting directly to Jamie Dimon, CEO/chairman.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
