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.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.