A top trader at Deutsche Bank has reportedly left after a bet went wrong to the tune of $60 million

Jacob Bourne linkedinLinkedIn

Jacob Bourne, the head of Deutsche Bank's inflation trading desk, has left the German lender, Bloomberg News' Donal Griffin and Dakin Campbell reported Thursday.

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.

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