Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

RBS suspends third trader in Forex rigging probe

Royal Bank of Scotland has suspended a third senior currency trader as the investigation into exchange rate rigging intensifies.

According to reports, Ian Drysdale has suspended for four months following the suspensions of colleagues Julian Munson and Paul Nash.

Overall the global investigation into the ‘fixing’ of exchange rates in the $5.3 trillion-day forex market has seen 20 traders in the some of the largest investment banks across the world suspended or fired.

FCA chief executive Martin Wheatley has described the allegations as ‘every bit as bad’ as those in Libor manipulation, which has seen banks pay out $6 billion in fines.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Volatility is back, Europe's future & Ethical's key moment

Volatility is back, Europe's future & Ethical's key moment

This week’s episode of Investment Pulse takes a look at European prospects, FTSE volatility and whether public pressure is about to provide a push for ethical investment

Play Volatility spike: How ETFs can soften the blow

Volatility spike: How ETFs can soften the blow

ETFGI’s Deborah Fuhr discusses the role of ETFs in client portfolios during volatile market conditions

Play Winter market warmers, the post QE world and timing the Fed

Winter market warmers, the post QE world and timing the Fed

This week’s episode of Investment Pulse looks at the winding down of quantitative easing, whether to try and time a US Federal Reserve rate rise and if strong seasonal performers can reverse recent market slumps

Wealth Manager on Twitter