Ina Drew

Last updated
Ina Drew
Education Johns Hopkins University (B.A.)
Columbia University (M.A.)
SpouseHoward Drew
Children2

Ina R. Drew is a former high-ranking executive on Wall Street. She was the chief investment officer for JPMorgan Chase before resigning after the company suffered a trading loss of $9 billion in April/May 2012. [1] [2] A report produced by the United States Senate Permanent Subcommittee on Investigations revealed that she did not understand the trading strategy, and could not explain it to the subcommittee. Furthermore, she lied to the subcommittee by stating she had not seen or received the "decision table" which outlined the various trading options for her in January 2012. [3] [4]

Drew grew up in Springfield Township, New Jersey. [5]

Career

She was one of very few high-ranking female executives on Wall Street. [6] "Until the loss was disclosed late Thursday [May 10, 2012], Drew was considered by some market participants as one of the best managers of balance-sheet risks. She earned more than $15 million in each of the last two years." [7] Her reported compensation for 2011 was $14 million. In 1993, she was profiled as one of "40 under 40" by Crain's New York Business . [8] She was CIO of JP Morgan Chase & Co. since February 2005. "Prior to that she was Head of Global Treasury [at JPM]". [9] She earned a master's degree in international economics from the School of International and Public Affairs at Columbia University. [8]

Drew and her husband have been residents of the Short Hills neighborhood of Millburn, New Jersey. [2] They have one daughter and one son. Ina Drew is now a trustee at Barnard College. [10] In 2018, she and her husband donated $1 million to Barnard and Columbia to endow two scholarships. [11]

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References

  1. ↑ "JPMorgan Chase Announces Management Changes; Ina Drew to Retire; Matt Zames Named New CIO" (Press release). JPMorgan Chase. May 14, 2012. Retrieved May 17, 2012.
  2. 1 2 Dominus, Susan (October 7, 2012). "The Woman Who Took the Fall for JPMorgan Chase". The New York Times Magazine . The New York Times Company. Archived from the original on January 30, 2013. Retrieved October 3, 2012.
  3. ↑ "DocumentCloud". www.documentcloud.org. Retrieved May 11, 2013.
  4. ↑ Moscovitz, Ilan (May 7, 2013). "48 Damning Pieces of Evidence From the JPMorgan Whale Trade Investigation". The Motley Fool. Retrieved May 11, 2013.
  5. ↑ Beeson, Ed. "N.J. native Ina Drew took the fall for JPMorgan mess by retiring", The Star-Ledger , May 20, 2012. Accessed October 27, 2017. "Drew, who is 55 and grew up in Springfield, has proven herself over the decades to be a tenacious and loyal worker, having served essentially with one bank as it underwent merger after merger."
  6. ↑ Belsky, Gary (2012-05-15). "Why We Need More Female Traders On Wall Street". Time . Retrieved 2013-05-02.
  7. ↑ JPMorgan CIO Drew retires after giant trading loss. Reuters. By Matt Scuffham and David Henry. London/New York. May 14, 2012. Retrieved May 14.
  8. 1 2 Leuchter, Miriam. 40 under 40; Profiles; Class of 1993; Ina R Drew, Age 36 Archived 2012-05-17 at the Wayback Machine , Crain's New York Business . Retrieved May 14, 2012.
  9. ↑ People: JPMorgan Chase & Co (JPM); Drew, Ina, Reuters. Retrieved May 14, 2012.
  10. ↑ "$1 Million Gift Establishes Scholarship in Prosthodontics at CDM and Fellowship at Barnard". 11 May 2018. Retrieved 2018-05-30.
  11. ↑ "Drews Give $1 Million to Barnard and Columbia". giving.barnard.edu. Retrieved 2022-02-06.
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