LONDON (Reuters) - JPMorgan is cutting a group of investment bankers in its London operations, two sources familiar with the situation said, on top of any departures in the unit that caused its recent trading loss of more than $2 billion.
The number of people affected is 20, one of the people said, a relatively small group in comparison to the Wall Street firm's 8,000 staff people in London.
Other banks - such as Goldman Sachs and Bank of America Merrill Lynch - have also been trimming staff, reacting to the gloomy outlook for the economy and pressure on revenues from tighter regulation.
JPMorgan declined to comment.
A relatively modest cull as is now happening at JPMorgan is a regular phenomenon in investment banks.
The cuts were unrelated to a minor exodus that has started at the Chief Investment Office, the first source said, the source of a hedging strategy gone sour that has raised doubts about the future of Chief Executive Jamie Dimon.
Ina Drew, who headed the unit, retired from her position on Monday, while sources have said that Achilles Macris, who headed the group in Europe, and Javier Martin-Artajo were also on their way out after the debacle.
Central in the trading scandal is Bruno Iksil, a French trader based in London nicknamed "the whale" because of the huge positions he took in credit markets.
The bank, which came out of the financial crisis strongly, has been plagued by a series of recent incidents.
In April, top dealmaker Ian Hannam resigned from the bank to fight a 450,000 pounds ($716,300) fine imposed by the Financial Services Authority for passing on inside information in relation to one of his clients, Heritage Oil.
Earlier this month, Italian police visited JPMorgan's Milan offices, in a probe into whether Banca Monte dei Paschi di Siena misled regulators over the 2007 acquisition of smaller rival Antonveneta.
However, JPMorgan, and the other banks visited in the probe were not under investigation.
($1 = 0.6282 British pounds)
(Reporting by Douwe Miedema)