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JPMorgan's Jes Staley Joins The Hedge Fund That Cleaned Up On The 'London Whale' Trade

Julia La RocheJan 8, 2013, 22:41 IST

JPMorgan's James "Jes" Staley, who was chair of the investment bank, has been hired by BlueMountain Capital, CNBC's Kate Kelly reported.

BlueMountain is a $12 billion hedge fund founded by JPMorgan alum Andrew Feldstein.

But get this...

BlueMountain Capital is the hedge fund that was on the other side of disastrous so-called "London Whale" trade that lost JPMorgan $5.6 billion last year.

BlueMountain's flagship fund was up more than 10% last year, according to CNBC.