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JPMorgan said to suspend two senior FX salespeople on expenses

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JPMorgan Chase & Co suspended two senior foreign-exchange salespeople because of client-related expenses, said a person with knowledge of the matter.

[LONDON] JPMorgan Chase & Co suspended two senior foreign-exchange salespeople because of client-related expenses, said a person with knowledge of the matter.

Michael Spencer, head of JPMorgan's hedge-fund currency sales team in London, and Chris McCoy, executive director for hedge-fund currency sales, were put on leave, said the person, who asked no to be identified because the matter is private.

The suspensions are not related to global probes into currency rigging or a wider crackdown on expenses, said the person.

A spokesman for JPMorgan in London declined to comment. Mr Spencer and Mr McCoy didn't respond to messages seeking comment.

BLOOMBERG