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

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]

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18 Responses to “US Authorities Are Investigating A Smaller, Sous Chef Of A Whale In JPMorgan’s CIO Office”

  1. Excel Monkey says:

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

  2. guest says:

    So…London Dolphin?

    – UBS marine life quant

  3. Guest says:

    God damned Grout really took a bath on that trade.

  4. Sean says:

    Free Willy 2?

    • Slick Willy says:

      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

  5. B2b MD says:

    Finding Nemo?

  6. Brenna says:

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  7. Irony of all ironies says:

    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.

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

  9. 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.

  10. This stuff will always happen…