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.
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