3 JPMorgan Executives to Leave: Report

NEW YORK (TheStreet) -- Three high-ranking executives are expected to leave JPMorgan Chase (JPM) next week, according to a published media report.

The expected departures come in the wake of the bank's disclosure last week that it lost $2 billion because of trades that went awry.

Citing people familiar with the situation, The Wall Street Journal reported Sunday that Ina Drew, the bank's chief investment officer; Achilles Macris, who headed the London desk that placed the trades; and trader Javier Martin-Artajo, a managing director on that desk, will leave the bank.

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Drew, who headed a risk-management unit called the chief investment office, has offered to resign multiple times, and she could leave as soon as Monday, the newspaper reported, citing the anonymous sources.

One key figure in the trading losses, Bruno Michel Iksil -- nicknamed the "London Whale -- likely will leave JPMorgan also, although it isn't clear when that will happen, the Journal added.

The four executives declined to comment through the company, the report said.

The bank's disclosure of the massive trading losses stunned investors, who dumped shares Friday, sending their price down more than 9% to close at $36.96.

The bank finds itself in crisis mode as critics contend the losses illustrate the need for strong regulation of large banks.

JPMorgan has said that the trade that went wrong wasn't intended to boost the bank's profits but instead was aimed at hedging risks.

On Sunday, the bank's CEO, Jamie Dimon said he was "dead wrong" last month when he brushed off concerns about the trading.

This article was written by a staff member of TheStreet.