Posted March 14, 2013 by Alexander Cooke in World

JPMorgan’s executives to appear before senators in ‘London Whale’ case

Northern, WI 03/14/2013 (avauncer) - JPMorgan Chase & Co.’s (NYSE:JPM) current and former executive have been asked to appear before a panel investigating the $6 billion ‘London Whale’ trading loss.

The Senate Permanent Subcommittee on Investigations announced a witness list for the hearing, which included the former chief investment officer Ina Drew, Ex-CFO Douglas Braunstein, and JPMorgan executive Michael Cavanaugh, who led the internal investigation into the losses.

These executives will testify about the trading loss in front of the panel.

Also, officials from one of the bank’s primary regulators, the Office of the Comptroller of the Currency, will appear.

However, CEO Jamie Dimon is not in the list. On this, the Senate panel spokesperson clarified that Dimon has already testified twice.

JPMorgan Chase & Co.’s CEO Dimon has not yet explained the trading loss.

The Senate Permanent Subcommittee on Investigations has been investigating that why could JPMorgan top  executive were unable to spot the dangerous costly trades.

Shares of JPMorgan Chase & Co. (NYSE:JPM) is up by 0.46% and currently trading at $50.40.

Alexander Cooke

Alexander Cooke has over 8 years experience in Automobile, marketing, PR, advertising, sales, promotions and special events planning. His writing for print includes work for a Gannett paper and a personal experience piece for Newsweek. Since 2008 he has concentrated on automotive articles for the on-line market and produced numerous pieces for the High Gear Media site Allcaradvice.com. That work was moved to the media company’s flagship site Thecarconnection.com where it can be viewed.