JPMorgan Chase's Staley leaves to join BlueMountain

Jes Staley, a longtime lieutenant to Jamie Dimon at JPMorgan Chase, is joining hedge fund BlueMountain Capital Management as a partner. BlueMountain was one of the firms that profited from JPMorgan's $6.2 billion derivatives loss last summer. Staley has been with JPMorgan for 34 years, but it is widely acknowledged that he is not a contender to succeed Dimon.

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