The debacle took on the "London Whale" nickname, which hedge funds gave to former JPMorgan employee Bruno Iksil for the large size of the trades he made for the company's Chief Investment Office in London. JPMorgan shares rose 1 percent on Monday to $53.14 at the close of regular trading in New York. The stock traded at $40.74 at the market close immediately before JPMorgan acknowledged on May 10, 2012 that it was losing billions of dollars are on the derivatives. (Reporting by David Henry in New York; Editing by Carol Bishopric)