Matt Zames, 41, is co-head of fixed income at JPMorgan Investment Bank and head of capital markets at the mortgage bank.
As the new chief investment officer, he will continue to manage mortgages, but he will also be in charge of $70 trillion worth of derivative contracts.
Prior to joining JPMorgan, Mr. Zams worked at Credit Suisse and before that was a trader at Long-Term Asset Management, the hedge fund that collapsed in 1998 with losses of $4.8 billion.
Matt Zames profited handsomely from JP Morgan's emergency purchase of Bear Stearns after the collapse of Lehman Brothers. Whether it was a good deal for JP Morgan remains to be seen.
What could possibly go wrong?
The collapse of LTCM in 1998
