Bank Of America, BNP Paribas Give Forex Traders A Moment To Think About What They May Or May Not Have DoneBy Bess Levin
Joe Landes and Bobby de Groot know what we’re talking about.
BNP Paribas and Bank of America-Merrill Lynch have joined the swelling ranks of currencies-dealing banks to have suspended staff as part of the global probe into the wholesale foreign-exchange market, forming a roll call that now encompasses almost every major bank in the business. BAML, the 10th-biggest currencies-dealing bank by market share, has suspended head of spot foreign-exchange trading in Europe Joseph Landes, according to a person familiar with the matter. Mr. Landes couldn’t be reached for comment. French bank BNP Paribas SA, meanwhile, has suspended its head of spot currency trading, Bob de Groot, according to people familiar with the situation. Julia Boyce, a spokeswoman for BNP Paribas, declined to comment on the matter. London-based Mr. de Groot couldn’t be reached for comment.