J.P. Morgan continues to make executive changes, WSJ reports

theflyonthewall.com

At J.P. Morgan Chase (JPM), the executive suite continues to be drastically reshaped, reports the Wall Street Journal. Two more executives of the management team that guided the bank through the credit crisis have taken new jobs. James "Jes" Staley, the former chief of the New York company's investment bank, is leaving to join a hedge fund that profited on a trade that saddled J.P. Morgan with more than $6B in losses last year. Todd Maclin, who was the co-chief of consumer and community banking, relinquished that job last week and his place on the bank's top management committee, while assuming a new post as chairman of the consumer businesses and the commercial bank.

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