JPMorgan Executive Norma Corio to leave bank

240px-J_P_Morgan_Chase_Logo_2008_1.svgNorma Corio, the JPMorgan executive who headed a group that invested in financially struggling companies, will leave the company this week.

Corio was once head of the now defunct Special Investments group that was restructured after the CIO incurred billions of dollars in losses in the “London Whale” trades, The Wall Street Journal reports.

While her group was not responsible for the losses, she was moved out of the CIO, and the group was moved to the bank’s corporate division and was tasked with assisting the bank in managing its distressed assets.

Sources close to the matter said Corio’s departure is unrelated to the London Whale losses, adding that she was currently “weighing alternatives,” according to The Wall Street Journal.

Before taking the lead at the Special Investments Group in 2012, Corio served as the bank’s treasurer and oversaw the firm’s restructuring group. In 2008, she told the WSJ she was friendly with CEO Jamie Dimon and frequently updated him on her activities.

“Jamie likes to know what is going on all the time, everywhere at this firm,” Corio said, The Wall Street Journal reports. “Full stop.”

JPMorgan announced last year it had sustained a $6.2 billion trading loss, leading to the resignation of company CIO Ina Drew.

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