JP Morgan CIO’s Former Risk Manager Had A Terrible Record As A Trader
by The Compliance Exchange on May 21, 2012
The skeletons in JP Morgan CIO’s closet just keep spilling out in the wake of the bank disclosing what may now be a $5 billion trading loss. JP Morgan’s former chief risk officer in its CIO Irvin Goldman—who was recently demoted to an advisory role and is expected to leave the bank—had a shady history as a trader at JP Morgan and his former employer, Cantor Fitzgerald and was once investigated by the NYSE for conflict of interest trading, the Wall Street Journal reported. Goldman, who joined JP Morgan in 2008, lost between $10 million to $15 million the same year as a trader for the bank’s CIO, according to the WSJ.
Read Full Article At Business Insider.
One comment
Just proves the old Wall Street axiom:
“The more money you lose, the more likely someone will hire you”.
by Tom Sullivan on May 22, 2012 at 9:16 am. #