JP Morgan has appointed Ashley Bacon as the lender’s chief risk officer replacing John Hogan.
Bacon has assisted JP Morgan in dealing with the bank’s bad derivatives bets, which emerged in May 2012.
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Bacon said that the priority was to strengthen the risk management team.
"It’s partly that we always want rigorous thinking in order to run the company safely, and partly because the regulatory hurdles have been raised, and we have to respond to that," reported Financial Times.
Bacon has worked at JP Morgan since 1993 in Singapore, Tokyo and London in a variety of trading and risk roles.
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