Though Iksil reveals little to other traders about his own positions, they say they’ve taken the opposite side of transactions and that his orders are the biggest they’ve encountered. Two hedge-fund traders said they have seen unusually large price swings when they were told by dealers that Iksil was in the market. At least some traders refer to Iksil as “the London whale,” according to one person in the business.

The Journal follows in today’s paper, reporting this:

One person familiar with the matter said the bank has run tests that show Mr. Iksil’s positions likely will be profitable in any economic or market downturn.

Yeah, right.

It seems Bloomberg is a bit miffed that the Journal didn’t credit it with the scoop (emphasis mine):

Iksil has earned about $100 million a year for the chief investment office in recent years, the Wall Street Journal said in an article following Bloomberg News’s initial report, citing people familiar with the matter.


Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu.