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JPMorgan trader "London Whale" leaves co: WSJ

JPMORGAN-LONDONWHALE:JPMorgan trader

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Reuters

 

REUTERS - Three employees from the chief investment office of JPMorgan Chase & Co, including Bruno Iksil known as the "London Whale", have left the bank, the Wall Street Journal said, citing people familiar with the matter.

The London-based employees - Achilles Macris, Javier Martin-Artajo and Iksil - were no longer listed in the company's internal employment database as of Thursday, the Journal said.

A spokesman for JPMorgan in London declined to comment.

The three men were still listed as "Active" in the register of individuals regulated by the Financial Services Authority, Britain's financial regulator.

It is a firm's duty to notify the FSA if an employee leaves the company, a spokesman for the watchdog said. There could be a brief delay between the moment the FSA was notified and the database was updated, he said.

 

Bets made by the three employees on certain corporate credit indexes led to just over $5 billion in losses in the second quarter, the Journal said.

Iksil could not be reached for comment, and an attorney for Martin-Artajo and for Macris did not respond to emails, the newspaper said.

All three worked for the Chief Investment Office, which was run by New York-based Ina Drew, who resigned in May.

JPMorgan is expected to reclaim compensation from all four people, the daily said quoting people familiar with the bank.

JPMorgan could not be reached for comment outside regular U.S. business hours.

 

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First Published: Jul 13 2012 | 3:07 PM IST

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