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Another Day, Another Senior FX Trader "Resigns"
The plague of resigning senior FX traders from bulge bracket banks continues. The oddly coincidental timing of these mass resignations - along with total radio silence over any reasons from the banks in question - and the spreading FX market 'rigging' probe is, we are sure, just conspiracy theorists run wild. As Bloomberg reports, Lloyds Banking Group’s global head of spot foreign exchange, Darren Coote, has resigned, according to three people with knowledge of the move.
Coote quit last week for personal reasons and the move is unrelated to any disciplinary investigations, said one of the people, who asked not to be identified because the decision isn’t public. Coote, who worked in London, didn’t immediately respond to a message left with a colleague or to an e-mail to his work address.
“It is group policy that we do not comment on individual employees,” Lloyds said in an e-mailed statement, declining to provide personal contact details for him.
...
His exit comes less than three months after Lloyds suspended Martin Chantree, a senior currency trader in the British lender’s London office, for passing on details about an impending trade to an employee at another firm.
Coote joined Lloyds in December 2011 from UBS AG where he was global head of spot trading, according to his LinkedIn account.
Is there anyone left trading FX - or is it all machines now?
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Must have decided to work in a building with less floors.
Is that paper, they have to shovel, radioactive or something ?
I dare say this fellows life expectency just took a turn for the worse... As they say, something is rotten in Denmark, or in this case the UK and it stinks to high heaven...
Excellent time to be suicided.
He got sent a nailgun.
And ammo for his shitgum.
South of the border they call it "Plata o plombo".
He doesn't want to take the money, so I suppose he's going to take the lead.
Miss my daily bankster. Been oddly quiet for a couple of weeks.
Someone had to fire that old Coote to make way for the robots.
Should have just jumped!
At least he wasn't 'pushed' out ?the 40th floor)
He still has to dodge nail guns, embankments, shotguns, and hangman's noose, and too much water in his bathtub
Hot tubs, planes and automobiles too.
And stay away from Fort Marcy Park.
And don't go canoeing after dark.
Don't forget the occasional car as he rides his bike.
Resignation is slightly better than suicide by nailgun.
Yeah he'd better be careful if he decides to remodel his house
When you are an old Coote..its time to go..hes into Bitcoin now
He may or may not be, but Lloyds is: https://www.elliptic.co/vault
and then they can say they have 'fixed' the problem and get off with a tiny feather wristslap punishment
Sharks and criminals the lot of them
I won't be surprised if that guy ended up in obituary page.
Also, we should not forget that Lloyds Bank are top of the list in the UK for paying out compensation to defrauded cutomers over the so-called "PPI mis-selling" scandal, which most of us would describe as blatant "fraud". But apparently not the Treasury, Chancellor or Met Police. Lloyds payouts are currently in the region of UKP 12-15 billion.
Reese: Defense network computers. New... powerful... hooked into everything, trusted to run it all. They say it got smart, a new order of intelligence. Then it saw all people as a threat, not just the ones on the other side. Decided our fate in a microsecond: extermination.
WTB phased plasma rifle in the 40w range.
You want that in ytterbium or praseodymium? Mode locked or pulse?
Of course it's all very unrelated with a couple of those FX guys suicided.
They got rid of their Cootes. They are no longer "it."
There is nothing certain in man's life but this, that he must lose it. ~ Owen Meredith.
leave it to the machines - they are void of human nature
After taking my mid morning Yellen it's good to read this. One more rat off the ship.