April 15, 2014 / 12:40 PM / 4 years ago

UPDATE 1-Lloyds' FX chief leaves bank - market sources

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By Patrick Graham

LONDON, April 15 (Reuters) - Lloyds Bank’s global head of foreign exchange spot trading has left the bank, citing personal reasons unrelated to the global investigation into currency market manipulation, sources with direct knowledge of the matter said on Tuesday.

Darren Coote had been with Lloyds in London since December 2011, having previously worked for more than a decade for Swiss bank UBS, one of the foreign exchange market’s biggest players.

“He left for personal reasons,” one of the sources told Reuters, speaking of Coote on condition of anonymity. Another confirmed he had left the bank.

Lloyds, which suspended another of its foreign exchange traders, Martin Chantree, earlier this year after an internal investigation into allegations of currency manipulation, said it would not comment on individual employees.

More than 30 traders have left banks or been suspended during the investigation into whether leading banks rigged the $5.3 trillion-a-day currency market around daily “fixings”, which set benchmark rates for companies and asset managers worldwide. (Editing by Jamie McGeever and David Goodman)

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