• 06 Sep 2012 at 1:51 PM

US Authorities Are Investigating A Smaller, Sous Chef Of A Whale In JPMorgan’s CIO Office

By

A fourth London-based JPMorgan Chase trader is under scrutiny in the investigation by U.S. authorities into the bank’s nearly $6 billion trading loss, according to sources familiar with the situation. Julien Grout, a trader who joined JPMorgan Chase in 2009, is drawing attention because he worked in the bank’s Chief Investment Office and reported to Bruno Iksil, the French credit trader who is a central figure in the federal probe, said the two sources. U.S. authorities are trying to determine whether traders in the bank’s London office, including Iksil, took steps to try and hide some of the losses the bank was incurring on a series of complex derivatives trades. In the trading community in London, Iksil became known as the London Whale because of the large positions he and his colleagues were taking on. Grout, who is also French, is still working for JPMorgan, according to a bank spokeswoman. [Reuters]

Comments (17)

  1. 1
    Posted by Excel Monkey | September 6, 2012 at 2:00 PM

    I may be thicker than a whale omelet but what's with these dodgy French traders?

  2. 2
    Posted by guest | September 6, 2012 at 2:07 PM

    So…London Dolphin?

    - UBS marine life quant

  3. 3
    Posted by Guest | September 6, 2012 at 2:08 PM

    Short Man syndrome

    -Napoleon Bonaparte

  4. 4
    Posted by Guest | September 6, 2012 at 2:12 PM

    God damned Grout really took a bath on that trade.

  5. 5
    Posted by guest | September 6, 2012 at 2:17 PM

    It'll be hard to fill the cracks he left in CIO's reputation.

  6. 6
    Posted by Alt_EST | September 6, 2012 at 2:22 PM

    I think we can all agree that the Frenchman hasn't taken a bath in some time….

    -Still Eating Freedom Fries

  7. 7
    Posted by guest | September 6, 2012 at 2:28 PM

    Barnacle

  8. 8
    Posted by Sean | September 6, 2012 at 2:35 PM

    Free Willy 2?

  9. 9
    Posted by B2b MD | September 6, 2012 at 2:46 PM

    Finding Nemo?

  10. 10
    Posted by Slick Willy | September 6, 2012 at 2:48 PM

    I did not have sexual relations with that Whale

    - William Jefferson Clinton + pointy finger in air but wistfully longing for those glory days of the pointy finger in a slab of blubber

  11. 11
    Posted by gUEST | September 6, 2012 at 2:58 PM

    Gross but fair.

  12. 12
    Posted by guest | September 6, 2012 at 3:14 PM

    squid

  13. 13
    Posted by Fish&Chips4u | September 6, 2012 at 5:02 PM

    No you don't

    -IOC

  14. 14
    Posted by Brenna | September 6, 2012 at 9:47 PM

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  15. 15
    Posted by Irony of all ironies | September 7, 2012 at 8:57 PM

    So someone fucked up at their job and took action to make it seem as though they didn't?

    And the United States Congress is the group chosen to get to the bottom of this?

    Pot, kettle. Kettle, pot.

  16. 16
    Posted by bookmarking submission | September 10, 2012 at 6:49 PM

    WfMOeF I loved your post.Really looking forward to read more. Want more.

  17. 17
    Posted by Edgardo Arroyano | September 19, 2012 at 7:09 PM

    I just moved on the US and I am having trouble finding global and national news merged into just one show. I just want the traditional news where the anchor reads the introduction, he/she talks about it, a video is shown and she just moves onto the next story.