Page 2418 


Firm Fires CEO Over Trading Losses

Bloomberg reports that WestLB has fired CEO Thomas Fischer following those $334m trading losses sustained by the bank's equity-trading desk sustained earlier this year by speculating on the difference between ordinary and preference shares in Metro, Volkswagen and BMW.

Trader Faces $30m Fine

All fun and games this week for Brian Hunter, the trader who is said to have been responsible for the $6bn losses sustained by hedge fund Amaranth Advisors following wrong-way bets on natural gas prices last year.

One-In-Six Firm Staff Said To Want Out

Reuters reports that, according to a survey undertaken by Dutch trade unions, 17% of staff who work at ABN AMRO feel that they would be better off quitting than sticking around to see who their new masters are.