JP Morgan commodity staff cuts won’t spread, but Europe recruitment slows

The recent commodity desk cull at JP Morgan is unlikely to be the start of an industry-wide trend, but the aggressive commodities build-outs from investment banks have slowed in Europe

Recruitment consultants expect job losses in the financial sector because of poorer-than-expected Q2 results at several investment banks, but commodities desks are not thought to be at risk.

“Many investment banks' energy trading divisions haven’t hit targets thus far this year,” says Mark Tomlinson, global head, energy, commodities and environmental markets at recruitment consultancy Kinsey Allen. “However, this does not mean there will be a widespread cull across the banking arena. [The failure

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