JPMorgan Shakes Up Credit Trading

NEW YORK (TheStreet) -- JPMorgan Chase (JPM Quote) is parting company with Eric Rosen, the head of its North American credit trading business, according to a Financial News report.

Rosen will be replaced by Kevin Corgan and Rob Milam, who had headed other credit trading divisions within the bank, Financial News, reported, citing an internal memo from Matt Zames and Daniel Pinto, recently appointed heads of fixed income under new investment banking unit chief Jes Staley. An e-mail to a JPMorgan spokesman was not immediately returned.

JPMorgan shares were down slightly in midday trading Friday, as were shares of Goldman Sachs(GS Quote) and Wells Fargo (WFC Quote). Shares of Citigroup (C Quote) and Bank of America (BAC Quote) were up slightly.

-- Written by Dan Freed in New York.