Fourth Trader Said Under Scrutiny in 'Whale' Probe, Ex-CEO Defends Jamie Dimon

Reuters reports that Julien Grout, a trader who joined JPMorgan 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, tried to hide some of the losses sustained from a series of complex derivatives trades.

Hit the link to access the complete Reuters article:

A fourth trader under scrutiny in JPM 'Whale' probe

In the meantime, Bloomberg reports that former JPMorgan Chase CEO William Harrison has said that investors overreacted to the firm's trading loss and that CEO Jamie Dimon is doing a 'great' job.

'It was disappointing to all of us that we had that kind of loss, but the important thing is to put it into perspective, which the market didn’t do very well', Harrison, 69, said in an interview on CNBC. 'A lot of people overreacted to it'.

Bank of England leaves policy on hold as economy steadies

AIG Sells AIA Stake as Benmosche Seeks Funds for Buybacks