A source tells The Associated Press that JP Morgan Chase is expected to accept the resignation of a high-ranking executive soon. The decision comes after one of the bank's trading groups lost $2 billion.
A person familiar with the matter tells the AP that the bank is expected to accept the resignation of Ina Drew. She is the bank's chief investment officer.
The source spoke on condition of anonymity because the person was not authorized to discuss it publicly.
The source says at least two other executives at JPMorgan will be held accountable for the trading blunder.
Copyright 2014 by The Associated Press. All Rights Reserved.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.