J.P. Morgan Chase & Co (JPM) board is expected to shake up its risk-policy committee in the wake of more than $2 billion in trading losses, the Wall Street Journal reported, citing people familiar with the matter. It isn't clear whether any of the current risk-committee members will leave the panel.
The board is expected to add Directors Timothy Flynn or James Bell to join the committee, the report stated.
The change was in the works before the company on May 10 disclosed losses tied to wagers on corporate-credit indexes placed by a unit called the Chief Investment Office, which includes a trader who has been called the "London whale" for his market-moving bets, the report noted.
The risk panel currently is chaired by James Crown, who is president of investment firm Henry Crown & Co., and includes two other board members: Ellen Futter, the longtime president of the American Museum of Natural History, and Honeywell International Inc. (HON) Chief Executive David Cote.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.