Skip to main content

Bank Of America, BNP Paribas Give Forex Traders A Moment To Think About What They May Or May Not Have Done

  • Author:
  • Updated:

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.

BNP Paribas and Bank of America Suspend Forex Traders [WSJ]


Layoffs Watch '16: Bank Of America Giving Traders The Ax

The cuts are said to be going down in the U.S. circa now.


BNP Paribas Forex Traders Got Busted For Having Too Much Fun

Move aside, “Mafia” and “Cartel.” It's time to meet “the Money Printing Chat Room.”