JP Morgan breaks up currencies and commodities group
JP Morgan is to separate its currencies and commodities businesses.
This means Patrik Edsparr, New York-based global head of rates, now oversees JP Morgan’s G-10 currencies business. Meanwhile, emerging-market head Daniel Pinto, who is also based in New York, takes charge of emerging-market currencies.
The reorganisation was revealed along with news that Rob Lichten, New York-based global head of foreign exchange, is to take a one-year sabbatical. Black and Winters said they would work with Lichten over this time to find him a new role at the bank.
The changes leave Blythe Masters, New York-based head of currencies and commodities, wholly focused on the bank’s global commodities business. Black and Winters noted that this area remained “one of our top investment and growth priorities”.
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