JP Morgan slashes commodity desks

Oral Dawe - JP Morgan

JP Morgan Chase has slashed up to 50 staff from its global commodities division and is closing down its commodity prop trading desk, sources say.

"There were cuts made yesterday across the commodities platform, of between 40 to 50 people globally," says one industry insider.

The cuts were made as a result of the $1.6 billion acquisition of RBS Sempra's commodities, global oil, metals and coal, and European power and gas businesses in July.

The bank has also decided to close its London-based

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: