Matthew Zames is the chief operating officer for J.P. Morgan Chase. He was previously chief investment officer, named to the position following the office's reported $5.8 billion derivative trading loss known as the "London Whale." Zames has been with J.P. since 2004 where he headed the firm's global fixed income in the investment bank and capital markets operations within the mortgage bank.
Once thought to be a possible successor to the bank's chief executive, James Dimon, Zames is leaving the firm, the bank said on June 8, 2017.
As CIO, Zames continued his previous mortgage-related responsibilities and also sat on the bank's Operating Committee. 
Before joining J.P. Morgan, Zames was a managing director at Credit Suisse, heading US rated trading. Before that, he was a trader at Long-Term Capital Management Zames was identified in a federal bankruptcy court filing as the J.P. Morgan employee who warned a bank executive about returns from Bernard Madoff's fund, speculating that it was a Ponzi Scheme.  In 2008, Zames was tapped by Jamie Dimon and ex-Bear Stearns CEO Alan Schwartz to assess, unwind, and eventually negotiate the sale of Bear Stearns to J.P. Morgan. 
Zames received a B.A. from the MIT Sloan School of Management in 1993.
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