by The Compliance Exchange on July 13, 2012
Bruno Iksil, the JPMorgan Chase & Co trader known as the “London Whale”, has left the bank, a person familiar with the situation said, in the wake of a trading scandal likely to have cost JPMorgan between $4 billion and $6 billion.
The Wall Street bank is due to report second-quarter earnings later on Friday and plans to disclose more about the bad derivatives bets its Chief Investment Office (CIO) made on portfolios of corporate bonds.
Iksil’s departure had been widely expected after he became the focus of attention in the trading scandal, because of the huge positions he took in credit markets.
Read the full story at the Huffington Post.
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