UPDATE: JPMorgan (JPM) Appoints Former KPMG Chairman Flynn to Risk Panel; Move Comes Following $5.8B CIO Loss
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(Updated - August 24, 2012 4:30 PM EDT)
According to reports out earlier, JPMorgan Chase & Co. (NYSE: JPM) appointed former KPMG chairman Timothy Flynn to its risk committee, following the large loss incurred in its CIO unit.
Flynn is already on JPMorgan's Board of Directors. He retired from KPMG last October.
JPMorgan's CIO losses were disclosed in May. With its second-quarter report, JPMorgan disclosed losses of about $5.8 billion.
According to reports out earlier, JPMorgan Chase & Co. (NYSE: JPM) appointed former KPMG chairman Timothy Flynn to its risk committee, following the large loss incurred in its CIO unit.
Flynn is already on JPMorgan's Board of Directors. He retired from KPMG last October.
JPMorgan's CIO losses were disclosed in May. With its second-quarter report, JPMorgan disclosed losses of about $5.8 billion.
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