• Thursday, July 25, 2024
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BusinessDay

JPMorgan Treasurer Craig Delany to step down

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JPMorgan Chase & Co Treasurer Craig Delany, who also oversees the bank’s Chief Investment Office, is leaving but will stay on until a successor is on board, the Wall Street Journal reported, citing an internal memo.

Delany, who is in his mid-40s, was appointed global chief investment officer following the “London Whale” episode, in which the bank lost about $6 billion in 2012 through trading losses, the newspaper said.

Delany, named treasurer of the bank in 2014, will retire in the coming months to spend more time with his family, the Journal said.

As of mid-2014, Delany, whose group has about 750 employees, managed a $350 billion portfolio in fixed income, $350 billion in short-term cash and $300 billion in debt issuance, securitization and other liabilities, the Journal said.