Business News

Zubrow confirms exit from JPMorgan Chase

Published: Oct. 6, 2012 at 11:52 AM

NEW YORK, Oct. 6 (UPI) -- JPMorgan Chase head of regulatory affairs Barry Zubrow confirmed that he will retire by the end of the year.

Zubrow is the latest to fall in a high-level shake up at the bank that lost an estimated $5.8 billion in trading blunders, which the bank made public in May.

Zubrow is a top adviser to Chief Executive Officer James Dimon. He confirmed his departure in a memo to employees, The Wall Street Journal reported Saturday.

The bank's head of risk management since 2007, Zubrow is part of a 15-member council that makes the bank's major decisions and will be the fourth out of that inner circle to leave the bank in the wake of the huge losses.

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