Wells Fargo says FX departures not related to front-running

Spokeswoman says executives' exits are unrelated to misconduct such as market collusion, market manipulation or front-running

audit skeptic
Scant details: Wells Fargo has let go of four FX executives as internal and external investigations around its currency practice begin

Wells Fargo is remaining tight-lipped about the details that led to the departure of four of its foreign exchange executives and a reported federal investigation into its currency practices – the latest in a line of scandals to have plagued the firm in recent years.

The third-largest US bank confirmed to FX Week through a spokeswoman that Simon Fowles, global head of FX trading and executive vice-president, is no longer at the institution. California-based Fowles held the position for more than

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