All At Sea: The 'London Whale' Leaves JPMorgan

Bruno Iksil, the trader known as the London Whale, has left JP Morgan it was reported Friday.

Iksil, whose trading team were responsible for huge losses of $4.4 billion, was widely expected to leave the bank after he gained notoriety in the wake of the trading scandal.

According to Reuters, a source at the bank confirmed Iksil had left, along with most of his credit trading team.

Achilles Macris, who headed CIO in Europe, and a third colleague, Martin Javier-Artajo had also left the bank, the The Wall Street Journal reported Friday morning.

Elsewhere, JP Morgan announced Friday that the bank had almost doubled its trading loss to $4.4 billion, driving profit down by 9 percent for the quarter.

Net income fell to $4.96 billion, or $1.21 a share, compared with $5.43 billion, or $1.27 a share, in the second quarter of last year, the New York bank said.

The now-notorious loss inflicted by the London-based trading team led by Iksil, cut earnings per share by 69 cents.

Shares rose in premarket trading 59 cents to $34.04.

Beyond the trading losses, investors and analysts are paying close attention to the ticker during a two-hour conference call following earnings Friday, in a bid to gauge whether the company has regained the trust of the market.

Marty Mosby, an analyst at Guggenheim Securities, remained optimistic on this point, writing in a June 13 note that we originally believed it might take two or three quarters for management to contain the potential loss related to this position; however, given [CEO Jamie] Dimon's statements, we would not rule out a strong communication in the upcoming July 13 earnings call.

Black eyes heal, Jason Goldberg, a banking analyst with Barclays Capital, told the Dow Jones Newswires. To the extent that they have worked down the majority of the position, we could start to put this issue behind us.