(Bloomberg) -- JPMorgan Chase, the biggest U.S. bank, named John Horner treasurer and chief investment officer, succeeding Craig Delany, who announced his retirement last month.
Horner, who joined JPMorgan in 2002, was previously head of investor services at the corporate and investment bank, New York-based JPMorgan said in an internal memo obtained by Bloomberg. The Wall Street Journal reported Horners move earlier Wednesday.
Delany was among executives enlisted by Chief Executive Officer Jamie Dimon more than two years ago to right the chief investment office after it suffered more than $6.2 billion of losses on derivatives bets by a U.K. trader, who was nicknamed the London Whale because his positions were so large.
Delany, then 41, took over the CIO months after the losses began mounting. When the office was folded into the companys treasury unit last year, the bank appointed him to run the combined group.
James Kenny, co-head of macro trading, will take Horners previous role as head of investor services for the corporate and investment bank.
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