BP Trader Said to Be Put on Leave Amid ‘Cartel’ Currency Probe
A sign reads 'Wharf Pool, Private Syndicate, Strictly Members Only,' at the entrance to the Wharf Pool fishing lake, owned by the Wharf Pool private fishing syndicate, in Stanford-le-Hope, U.K. Photographer: Simon Dawson/Bloomberg
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A senior currency trader at BP Plc has been placed on leave after conversations emerged linking employees at the oil giant to an online chat room used by the world’s biggest banks to rig the foreign-exchange market.
Andrew White, known in the market as Tubby, was suspended after Bloomberg reported in December that traders at BP’s London office received tipoffs from counterparts at firms including JPMorgan Chase & Co., Citigroup Inc. and Barclays Plc, three people with knowledge of the matter said.