London trader known as 'Voldemort' responsible for JP Morgan $2billion loss

By Christian Gysin

A London based trader - nicknamed 'Voldemort' - was yesterday thought to responsible for a huge trading loss for the investment bank JP Morgan. Bruno Michel Iksil was named by the Washington Post as the man behind a staggering £1.2 billion loss.

The 'black hole' was revealed during the bank's second quarter amid fears his trades could cost the bank a further £750 million in the coming months. Yesterday it emerged that Mr Iksil works in JP Morgan's Chief Investment Office ( CIO) where his job was reportedly supposed to oversee mitigating risk.

However bank CEO Jamie Dimon yesterday issued a statement claiming that the bank had hit trouble as he said: ' In hindsight, the new strategy was flawed, complex, poorly reviewed, poorly executed and poorly monitored.

'It puts egg on our face and we deserve any criticism we get.' In his Blooomberg trading profile the French born Iksil talks of being able to 'walk on water' being 'humble' but in the City he has been nicknamed 'Lord Voldemort ' - after Harry Potter's nemesis.

© Daily Mail London

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