Irvin Goldman, who oversaw risks in
the JPMorgan Chase
& Co. (JPM) unit that suffered more than $2 billion in trading losses,
was fired by another Wall Street firm in 2007 for money-losing bets that
prompted a regulatory probe, three people with direct knowledge of the matter
said.
JPMorgan appointed Goldman in
February this year as the top risk official in its chief investment office
while the unit was managing trades that later spiraled into what Chief
Executive Officer Jamie Dimon called “egregious,” self-inflicted mistakes. The
bank knew when it picked Goldman that his earlier work at Cantor Fitzgerald LP
led to regulatory sanctions against Cantor, according to a person briefed on
the situation.
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