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 Reuters.
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 is still working for JPMorgan, according to a bank
spokeswoman. He has declined to comment, she said. Grout, who is also French, is at least the
seventh current or former JPMorgan employee to retain outside counsel in
connection with the probe…..
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