A top trader at Deutsche Bank has reportedly left after a bet went wrong to the tune of $60 million
Jacob Bourne joined Deutsche Bank in October 2016
Bourne helped run the desk for less than a year, during which it came under fire after risky bets on US inflation led to a loss of up to $60 million.
The losses reportedly sparked an internal investigation as to whether Deutsche employees breached risk limits.
JPMorgan analyst Kian Abouhossein said this week that the bank's second quarter fixed income trading revenue could fall 5% compared to the same window last year. European peers could post a 10% loss, according to JPMorgan. Deutsche Bank will announce Q2 results on August 2.
Bourne previously served as managing director at Scotiabank, where he held a similar role in inflation trading, before joining Deutsche Bank in October 2016.
Business Insider has reached out to Bourne about his departure and will update this story if comment is received.
Next Story
Stock markets stage strong rebound after 4 days of slump; Sensex rallies 599 pts
Sustainable Transportation Alternatives
10 Foods you should avoid eating when in stress
8 Lesser-known places to visit near Nainital
World Liver Day 2024: 10 Foods that are necessary for a healthy liver
