J.P. Morgan has added at least five new employees over the past month to the risk department in its Chief Investment Office, the unit responsible for trading losses that may have climbed to $9 billion, according to people familiar with the matter.
The bank is expanding the risk unit as it responds to the trading debacle and rebuilds the CIO, said one person familiar with the bank's thinking.
FINS first reported a realignment of the risk unit in May, when the CIO's chief risk officer, Irvin Goldman, was replaced by Chetan Bhargiri, a former managing director of market risk at the investment bank. Goldman has been retained as an adviser to the bank.
Since his appointment, Bhargiri has begun to assemble a new team. The latest additions are transfers from units elsewhere in the bank. J.P. Morgan wouldn't make either Bhargiri or his new staff available to comment. The latest appointments include:
Ameeta Gosain, managing director, reporting to Bhargiri and based in New York. Reporting to Gosain is Lloyd Senior, a vice president based in New York.
Meg Teep, executive director, reporting to Bhargiri.
Jonathan Aaron, vice president, reporting to Peter Weiland, a managing director who reports to Bhargiri. According to Aaron's LinkedIn profile, he has worked at J.P. Morgan since 2005 and attended the State University of New York at Albany. His current title says he works in tax-exempt derivatives sales. He is based in New York.
Also reporting to Weiland is Rodrigo Lamas, an executive director. According to Lamas' LinkedIn profile, he has worked at J.P. Morgan since 2006 and was head of market risk, global energy from that time until June 2011. He has a Ph.D in computational finance from Imperial College London. He is based in London.
Write to Julie Steinberg at firstname.lastname@example.org