From http://www.bloomberg.com/news/2012-05-21/jpmorgan-cio-risk-c... : """ Irvin Goldman, who oversaw risk in the JPMorgan Chase & Co. unit that suffered more than $2 billion in trading losses, was fired by another Wall Street firm in 2007 for money-losing bets that prompted a regulatory sanction at the firm, Cantor Fitzgerald LP, three people with direct knowledge of the matter said. """

Apparently, this guy had a history, no change was needed.