Bruno Iksil, the trader known as the "London Whale," has left JPMorgan, according to reports on Friday.
Iksil, whose trading team was responsible for huge losses of $4.4 billion at the bank, was widely expected to leave JPMorgan after he gained notoriety in the wake of the trading scandal which came to bear his nickname.
According to Reuters, a source at the bank confirmed Iksil had left, along with most of his London-based credit trading team.
Achilles Macris, who headed CIO in Europe, and a third colleague, Martin Javier-Artajo, have also left the bank, the Wall Street Journal reported Friday morning.
Elsewhere, JPMorgan announced Friday that the bank had almost doubled its trading losses to $4.4 billion, driving profit down by 9 percent.
Net income fell to $4.96 billion, or $1.21 a share, compared to $5.43 billion, or $1.27 a share, in the second quarter of last year, the New York bank said.
The now-notorious loss, inflicted by the London-based trading team led by Iksil, cut earnings per share by 69 cents.
Shares rose in premarket trading 59 cents to $34.04.
Beyond the trading losses, investors and analysts are paying close attention to JPMorgan's stock price during a two-hour conference call following the company's earnings call on Friday, in a bid to gauge whether the company has regained the market's trust.
Marty Mosby, an analyst at Guggenheim Securities, remained optimistic on this point, writing in a June 13 note that "we originally believed it might take two or three quarters for management to contain the potential loss related to this position; however, given [CEO Jamie] Dimon's statements, we would not rule out a strong communication in the upcoming July 13 earnings call."
"Black eyes heal," Jason Goldberg, a banking analyst with Barclays Capital, told Dow Jones Newswires. "To the extent that they have worked down the majority of the position, we could start to put this issue behind us."
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