JPMorgan Won't Retain WaMu CEO

JPMorgan Chase (JPM Quote) won't offer a job to Alan Fishman, chief executive of Washington Mutual, and certain other high-level executives, according to published reports.

JPMorgan last week purchased the bank assets of Washington Mutual, the nation's largest savings and loan association, for $1.9 billion, after federal regulators took over WaMu's operations.

JPMorgan told new employees Thursday that in addition to Fishman, employees that won't be retained include President Steve Rotella, chief legal officer Michael Solender, and executive vice president Todd Baker. Their last day is Friday, the Wall Street Journal reports. Chief Financial Officer Tom Casey is staying on through the end of the year. ...