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Stories of Interest
- New Cyberattack Goes Global, Hits WPP, Rosneft, Maersk
- Deutsche Bank Said to Lose as Much as $60Mn Over Derivative Trade
- Dimon Says JPMorgan Headcount to Keep Rising Despite Automation
- RBS to Cut 443 Jobs In UK, Move Many of Them to India
- Deutsche Bank Bullish on London Despite Brexit
- Supreme Court Nears Finish With Big Cases, Retirement Rumors
- The Richest Person in Every State
- LPL Tabs Scott Seese, Former eBay Exec, as Chief Information Officer
- Fired Biglaw Associate Arrested for Trying to Extort Partners
- Canada's CIBC Completes $5Bn PrivateBancorp Buy
- Word ‘Women’ Literally Never Appears in U.S. Senate’s 142-Page Health-Care Bill
- Stephen Pierce, Goldman Sachs Global Head of Equity Markets, To Retire
- Al Gore 'Not Very Smart,’ But Became Filthy Rich Using Simple Investing Formula - Charlie Munger
- U.S. Regulators, Lawmakers Support Volcker Rule Revamp at Hearing
- Morgan Stanley Opts for Frankfurt as New EU Hub
- A New Risk for Goldman, Morgan Stanley in Stress Tests (subsc reqd)
- A Trump Bump for Law Firm of President’s Lawyer - Kasowitz Benson Torres
- JPMorgan, BofA, Goldman, Citi, Wells Fargo Pass Fed's Stress Test
- Blackstone Stock Still Trading at $31 - Its IPO Price From 10 Years Ago
- NJ Resident and NY-Based Global FX Club Charged with Solicitation Fraud, Misappropriation - CFTC
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NEWSLETTERS & ALERTS
Federal Reserve Drops ‘London Whale’ Probe
[Photo: 'Whale in a Teapot', 2012, by Ingram Pinn / Ft.com/lexicon]
The Federal Reserve has opted not to bring legal action against JPMorgan’s London Whale, Bruno Iksil. And so ends the 2012 saga that left JPMorgan with a $6.2 billion loss and Chairman/CEO Jamie with egg on his face.
So, what is to become of Mr. Iksil, the former trader in JPMorgan’s London-based Chief Investment Office, who has been ‘hiding out’ in France - at home with his family in France, about 50 miles south of Paris? [See Financialish, 3/15/17] Those past 5 years afforded him protection from prosecution that he no longer needs.
It’s likely that Mr. Iksil will seek to ‘defend his honor’ and tell what happened 5 years ago – from his perspective – perhaps in a book or in a series of interviews.
“I have to retrieve my reputation, my intellectual property and, simply, my life …”
Beyond that, not much is known about The London Whale’s intentions.