Credit Suisse Said to Dismiss London ETF Trader Over Loss

Credit Suisse Group AG, Switzerland’s second-biggest bank, dismissed a London trader saying that he lost $6 million on unauthorized transactions, according to a person briefed on the situation.

Rohit Jha, who traded exchange-traded funds, was dismissed on Oct. 28 and his supervisor, Matthew Tagliani, has been suspended due to the losses, which occurred in December, said the person, who asked not to be identified because personnel matters are confidential. The Zurich-based bank notified regulators promptly and has been cooperating with them, said Jack Grone, a spokesman.