Citigroup Inc. and JPMorgan Chase & Co. are putting their top London currency dealers on leave after regulators probing the manipulation of foreign-exchange rates started investigating the traders’ use of an instant-message group, three people with knowledge of the moves said.
European Union antitrust regulators are examining the possible manipulation of currency rates, following a Swiss probe into whether banks colluded to manipulate the $5.3 trillion-a-day foreign exchange market.
Breezing into a sunlit conference room near London’s Hyde Park Corner wearing an open-collared white shirt that frames his square jaw, Loic Fery exudes the confidence of a soccer club owner who’s enjoyed success on the pitch and with the team’s account ledgers.
Citigroup Inc.’s co-chief country officer and head of corporate and investment banking for France, Eric Coutts, left the company as the lender reduces staff, according to a person with knowledge of the matter.
Global regulators may start overseeing currency rates in a widening response to benchmark- rate setting scandals that began with revelations on the manipulation of Libor, two people familiar with the matter said.