The $2 billion trading loss at JPMorgan Chasehas claimed another victim.
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JP Morgan sign
Bruno Iksil, the so-called London whale at the center of the trading debacle, is leaving the bank, according to current and former colleagues. The timing of the departure is unclear.
Mr. Iksil gained notoriety last month after reports that he built up outsized positions that distorted prices in an obscure corner of the credit markets.
The holdings proved disastrous for the bank. Last week, JPMorgan disclosed $2 billion in trading losses, indicating that the final cost could be much higher.
Jamie Dimon, the bank’s chief executive, called the wounds “self inflicted.”
His exit follows the resignation Monday of Ina Drew, the 55-year-old banker who oversaw the disastrous trade as head of the chief investment office. Achilles Macris, a top JPMorgan official in London and a senior London trader, Javier Martin-Artajo, are also expected to leave.
JPMorgan declined to comment.