JPMorgan Chase & Co. (JPM)’s Bruno Iksil is leaving the bank after trades on credit derivatives at the unit where he worked accumulated $2 billion in losses, the New York Times reported citing unidentified traders.

Iksil is expected to be gone by the end of the year, the newspaper said in an updated version of its story, citing people with knowledge of the situation.

To contact the reporter on this story: Dan Kraut in New York at dkraut2@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net