More Management Changes at J.P. Morgan

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By Trey Thoelcke Published
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One more of Jamie Dimon’s key aides at J.P. Morgan Chase & Co. (NYSE: JPM) has been caught in the reorganization that began with a multibillion trading loss at the firm’s London office. The Wall Street Journal reports the Chief Financial Officer Douglas Braunstein will change jobs.

Braunstein was involved, the paper reports, with the buyout of Bear Stearns, which has come back to haunt the bank. Bear created and sold mortgage-related paper that was part of the start of the financial crisis. The federal government has begun to scrutinized those activities, which could cause J.P. Morgan trouble and cost it in fines.

The shuffling and dismissal of executives so close to Dimon means that the heat is on him to justify his own role in trading losses and M&A. He can say, perhaps fairly, that those directly under him made most of the mistake. However, so far, in public he has admitted “the buck stops here.” But the more people at J.P. Morgan who quit their jobs, the more its appears that Dimon wants to protect himself from the impressions that he was involved enough in the catastrophes to be pushed out.

Douglas A. McIntyre

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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