The reports came as the bank's chief executive Jamie Dimon admitted that the stunning loss had jeopardized the bank's credibility and given regulators a fresh opportunity to target Wall Street.
Dimon is set to accept as early as Monday the resignation of Ina Drew, a 55-year-old chief investment officer who has worked at the firm for three decades, The New York Times said, citing company executives.
The Wall Street Journal said two other high-ranking executives were set to leave during the week: Achilles Macris, who heads the London-based desk that placed the trades, and trader Javier Martin-Artajo, a managing director on Macris's team.
Drew had repeatedly tendered her resignation since the extent of the loss became apparent in late April, but Dimon had refused to accept it until now, according to the reports.
London-based trader Bruno Michel Iksil, nicknamed "The London Whale" for the large positions he took in credit markets, is also likely to leave though it remains uncertain when he will do so, the Journal said.
Asked if JPMorgan's losses had given regulators new ammunition to clamp down on Wall Street after the US government spent billions to bail out financial institutions during the 2008 crisis, Dimon replied: "Yes, absolutely. This is a very unfortunate and inopportune time to have had this kind of mistake."
SOURCE: http://business.asiaone.com/Business/News/Story/A1Story20120514-345755.html
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