Is It Curtains for Bruno Iksil?

May 16, 2012 2:26 PM EDT
Reports this afternoon said that infamous trader Bruno Iksil, aka the 'London Whale', was leaving his position at JPMorgan (NYSE: JPM). Follow up reports now state that he will be staying on for a while longer, perhaps to help the bank unwind trading positions.

Iksil gained notoriety last month when observers noticed outsized positions in credit markets that have been estimating at $100B. These positions would later blow up in Iksil's face and force Jamie Dimon, the CEO of one of the largest, and some would say best run banks in America, to announce in a surprise conference call that the bank had trading loses of $2B in the first six week of the second quarter.

Insiders say Iksil earns approximately $100 million per year. If true, that could mean Iksil has another $8.3 million coming to him at the end of May– although this is unlikely considering the situation.

Reports yesterday said Dimon is considering ways to claw back money paid to Iksil and others involved in the trading debacle, but so far we have no solid news on this issue or the timing of his departure.

With all the rumors on the Street today, we wouldn't be surprised to hear that Bruno has been spotted on the London clubs scene hanging with the likes of Paris Hilton. He is the "Whale" for a little while longer... why not make the most of it.

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