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CHOPPING BLOCK Ina Drew Out at JPMorgan Mark Lennihan / AP Photo

Ina Drew Out at JPMorgan

Masters of the universe, perhaps not. The Wall Street Journal is reporting that Ina Drew, the top-earning chief investment officer at JPMorgan Chase who put her stamp on the trades that went bust, resigned Monday. CEO Jamie Dimon said in a statement that Drew's "vast contributions to our company should not be overshadowed by these events." Hers is one of three desks expected to be empty by the end of this week as the bank reels from the disclosure that it lost a whopping $2 billion in bad trades. Two more executives, direct subordinates of Drew’s, are also expected to leave, sources told Reuters. Drew reportedly offered her resignation weeks back as the size of the losses from her mismanaged derivatives portfolio became clear, but she was briefly insulated from the fallout by her successful history at the bank.

May 14, 2012 6:44 AM