JP Morgan has promoted one of its most senior clearing executives, and a 2012 Financial News Rising Star, to a new risk role as it looks to strengthen oversight of its global operations in the wake of last year's 'London Whale' trading loss.

Dale Braithwait took on the role of chief operating officer for risk in Europe, the Middle East and the Africa at the start of this week, according to two people familiar with the situation. It is a new role at the bank, which reports to Joe Holderness, JP Morgan's chief risk officer for Emea, one person said.