Senior executives at JPMorgan 'to resign'

13/05/2012

By Daniel Hunter

The fall-out from JPMorgan Chase's shock announcement of losses totalling more than $2 billion (£1.2 billion) continues as top executives are reported to be ready to step down.

According to reports in the New York Times those to step down include chief investment officer Ina Drew, and two other high-ranking executives.

A staggering $14 billion was wiped from the company's value following a 10% drop in share prices on Friday.

"We made a terrible, egregious mistake. There's almost no excuse for it," Speaking on NBC's Meet the Press on Sunday, JPMorgan boss Jamie Dimon said.

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