JPMorgan boss Ina Drew quits

One of JPMorgan Chase's highest-ranking women has resigned from her post after the bank lost $2billion in a trading blunder attributed to an employee who was under her supervision. The bank has accepted the resignation of 55-year-old Ina Drew, its chief investment officer who has been at the firm for more than 30 years, a source said. At least two other executives at the bank will also be held accountable for the mistake. The casualties come as the bank, the largest in the United States, seeks to minimise the damage caused by the $2 billion trading loss, announced on Thursday by CEO Jamie Dimon. Investors shaved almost 10 per cent off JPMorgan's stock price on Friday, and Dimon has said the mistake will complicate the efforts of banks to fight certain regulatory changes three years after the financial crisis. Drew, 55, is a top lieutenant to Dimon and effectively in charge of Bruno Michel Iksil, the French trader nicknamed 'Voldemort' and 'the London Whale'. She was paid $15.5million last year and almost $16million in 2010, making her one of the highest-paid officials at JPMorgan, according to a regulatory filing. The Wall Street Journal reported that Iksil, the JPMorgan trader famous for the giant bets he placed, was also likely to leave, but it was not clear when that would happen. The surprise loss has been a black eye for the bank and for Dimon, known in the industry both as a master of risk management and outspoken opponent of some proposed regulation since the crisis.