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JPMorgan compliance chief leaves firm: WSJ
[February 26, 2014]
(Reuters) — The compliance
chief of JPMorgan Chase & Co's <JPM.N> has quit the largest U.S. bank, roughly a year
after being appointed to the position, the Wall Street
Journal reported on Tuesday. Chief Compliance Officer Cindy Armine is expected to take a job at payment processor First Data Corp, the report said, citing people familiar with the matter. (http://r.reuters.com/qap27v) |
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JPMorgan could not be immediately reached for
comment outside regular U.S. business hours. Last year, the company agreed to about $20 billion in
settlements to clear up legal claims. The deals covered claims
about mortgage issues, as well as derivatives and power trading. According to the WSJ report, the bank's Chief Administrative
Officer, Lou Rauchenberger, has been appointed as interim chief
compliance officer and the company is looking for a permanent
replacement. Earlier on Tuesday, the JPMorgan announced 8,000 jobs cuts and
lowered its 2014 profit target, hurt by weakness in its mortgage
and trading business. (Reporting by Anannya Pramanick in Bangalore; editing by Edwina Gibbs) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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