JPMorgan's 'London Whale' departs

The JPMorgan Chase employee, dubbed the ‘London Whale', who was responsible for an estimated $2bn loss has left the bank.

Bruno Iksil along with two of his supervisors are no longer listed in an employee database as of yesterday, reported the Wall Street Journal citing anonymous sources. His direct boss, Javier Martin-Artajo, and manager, Achilles Macris, have been removed, the report claims. The three employees made bets on corporate credit indexes that led to slightly more than $5bn in losses for the second quarter, the newspaper said. Jamie Dimon, the chief executive of JP Morgan, is due to hold a press conference later today as he seeks to minimise further damage to the bank's reputation. Last ...