That didn’t take long.
Hours after JPMorgan Chase’s embarrassing $2.3 billion trading loss was announced, critics were already out for blood.
The big bank run by one of Wall Street’s most revered managers, sources said, could see any number of executives lose their jobs, including CEO Jamie Dimon and other senior execs — although many said that was a long shot.
“It really goes to the issue of credibility,” said Dick Bove, bank analyst at Rochdale Securities.
“I think heads are going to roll at JPMorgan, and they should,” the analyst added.
JPMorgan is currently conducting an internal review of its risk management and trading focused on its Chief Investment Office (CIO). The bloodletting might wait until the internal probe is over.
The executives whose fingerprints are all over the debacle — and therefore closest to the guillotine — are:
* Trader Bruno Iksil, known as the “London Whale,” who put on some of the bank’s complex derivative trades, within JPMorgan’s CIO.
French-born Iksil, based in London, is said to have placed a whopping $100 billion bet that has been tough for JPMorgan to unwind and might actually result in losses well higher than $2.3 billion, sources said.
* Ina Drew, Iksil’s boss, who has been running JPMorgan’s little-known but powerful CIO since 2005.
Drew, who lives in Short Hills, NJ, is described as a hot-shot fixed-income trading whiz who rose up the ranks to manage the unit in the US.
* Chief Financial Officer Doug Braunstein, whose job it is to assess the risk level of JPMorgan’s bets.