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BY DAN FITZPATRICK, ROBIN SIDEL AND DAVID ENRICH

J.P. Morgan Chase Co. boss James Dimon rode out the financial crisis with one of the most stable management teams in the financial world. That might be about to change.

Two executives on the New York bank’s 15-person operating committee, commercial-banking chief Todd Maclin and top international executive Heidi Miller, are expected to step down from those jobs soon, according to people familiar with the matter.

Ms. Miller will likely retire, while Mr. Maclin is expected to take another role within the bank, these people added.

Another ally of Mr. Dimon’s, investment-bank chief Jes Staley, has faced pointed questions …

BY JENNY STRASBURG AND MICHAEL SICONOLFI

Congressional investigators are broadening an early-stage stock-trading probe into SAC Capital Advisors, with plans to examine any suspicious trading by the hedge-fund giant in the options market, another arena where investors wager on the prospects of companies and deals, according to people familiar with the matter.

The Wall Street Journal reported Friday night that Iowa Sen. Charles Grassley, the top Republican on the Senate Judiciary Committee, is investigating roughly 20 instances over the past decade when the Financial Industry Regulatory Authority, a Wall Street regulator, suspected SAC could have bought and sold stocks based on inside information.

Those stocks include …

By DAVID GAUTHIER-VILLARS And SEBASTIAN MOFFETT

PARIS—Renault SA is prepared to exonerate the three managers fired for alleged corporate espionage, people familiar with the matter said, in what would be a major stand-down that could presage a change in the French auto maker’s senior management.

Renault is prepared to exonerate the three managers fired for alleged corporate espionage in what would be a major stand-down that could presage a change in the French auto maker’s senior management. John Bussey has details.

As Renault faces up to what is likely to be an embarrassing conclusion to its highly touted l’affaire d’espionnage, one scenario being discussed by the firm’s board is for Chief Operating Officer Patrick Pélata to tender his resignation, the people familiar with the matter said.

Jean Reinhart, a lawyer for Renault, said the company wouldn’t do anything official until it had heard back from Paris prosecutors regarding the outcome of their search for alleged bank accounts in Switzerland and Liechtenstein, where Renault suspected the three fired managers had stashed bribe money.

“We were heavily criticized for pulling the trigger too fast,” Mr. Reinhart said in a phone interview. “We don’t want to do it again.”

In the latest twist to what has become a public humiliation for one of France’s biggest companies, he said Renault now is trying to trace what had happened to €250,000, or about $348,000, that Renault’s security department paid to an Algeria-based private investigator, Michel Luc, in exchange for information about the alleged bank accounts in Switzerland and Liechtenstein. Mr. Luc hasn’t responded to messages left at his former office near Algiers.

Mr. Luc was a middleman between Renault and an informant, members of Renault’s security department have told the company’s top management and police. But an official in Renault’s security department who dealt with Mr. Luc so far has refused to tell the police or management who eventually received the cash and supplied information about the alleged bank accounts.

Mr. Pélata was unavailable to comment. It is unclear whether Chief Executive Carlos Ghosn would accept his resignation if offered, the people familiar with the matter said. A Renault spokeswoman said she wasn’t personally aware of any steps to exonerate the three managers, but added: “It’s quite normal that we prepare certain things according to different scenarios,” she added.

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Reuters

Carlos Ghosn

The Paris prosecutor’s office has said that responses from authorities in the two countries were expected in the coming days. According to people familiar with the matter, police in Switzerland and Liechtenstein haven’t found any secret bank accounts connected to the three managers. The managers repeatedly have denied they had accepted bribes or held secret bank accounts.

Mr. Reinhart insisted, however, that Renault remains a victim—one way or another. Should the Paris prosecutor’s search turn up empty, it would pursue the case as an attempt to destabilize management, Mr. Reinhart said.

French prosecutors, meanwhile, are widening their own investigation, using DNA tracing to determine who sent the anonymous letter that set off Renault’s internal probe, the people familiar with the matter said. Renault management does not know the identity of the sender, Mr. Reinhart said.

Renault’s Investigation

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Two months after Renault said it had been the victim of corporate espionage at its electric car unit, there are growing signs that the car company may have pulled the trigger too fast. Follow events surrounding the investigation.

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The Paris prosecutors had hoped to find DNA samples on the back of the anonymous letter’s postage stamp, but they haven’t been able to because it was a self-adhesive stamp, these people added. Officials at the Paris prosecutors’ office didn’t return calls seeking comment on Wednesday.

The letter was sent last August to several top Renault managers. In it, an anonymous tipster said he had seen Michel Balthazard, head of the firm’s development projects and one of the company’s most respected executives, negotiating a bribe.

After a four-month-long investigation, Renault in January dismissed Mr. Balthazard and two other managers, all of whom worked on the company’s electric vehicle program. The three men immediately professed their innocence, but Mr. Ghosn went on national television to say the company had evidence against them.

Over the past two months, however, Renault has uncovered little evidence against the three, according to people familiar with the matter. Last week, Mr. Pélata said Renault was no longer certain that it had been the target of corporate espionage. He said it could have been “tricked” into bringing allegations against three senior managers.

Mr. Pélata indicated that he may step down if the investigation turned up nothing against the three managers. French Finance Minister Christine Lagarde has called on Renault’s top managers to “take the consequences” of any mishandling of the investigation.

Write to David Gauthier-Villars at David.Gauthier-Villars@wsj.com and Sebastian Moffett at sebastian.moffett@wsj.com