Drew Says Subordinates’ Deception at JPMorgan Let Her Down
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Ina Drew, who was forced to leave JPMorgan Chase & Co. amid a record trading loss last year, said she relied on other executives to manage a complex book of credit derivatives and didn’t learn of their “deceptive conduct” until after she left the company.
“I was, and remain, deeply disappointed and saddened to learn of such conduct and the extent to which the London team let me, and the company, down,” Drew said in testimony prepared for delivery in the Senate today.