Former JP Morgan executive to clear name in London Whale scandal

By Marc Castro

Oct 21, 2013 07:16 PM EDT

Former JPMorgan Europe Executive, Achilles Macris, said he would appeal findings by the UK market regulatory authorities that called him out after he sustained losses caused by Bruno Iksil, who was known as the London Whale trader.

According to Clifford Chance LP, Iksil's lawyers, said Macris "was deprived of the opportunity to respond" to the allegations made by the Financial Conduct Authority. This statement was made known via email. Macris was the JPMorgan's international Chief Investment Officer and is claiming that finding from the September investigation showed that there were instances 'made in error'. He said he would be challenging the findings in a UK tribunal.

For its part. FCA spokesperson Michael Osborne said through a statement, "The assertions fail to take proper account of the actions he took and mischaracterize his dealings with the Authority at the relevant time."

JP Morgan spokesperson Brian Marchiony declined to make a comment on the actions of Macris. 

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