JP Morgan commodity heads reveal plans for the future
JP Morgan sold its physical commodities business to Switzerland-based Mercuria in October, a major retreat after years of aggressive expansion in energy and metals. But in an exclusive interview, the bank’s new global co-heads of commodities tell Alexander Osipovich that JP Morgan will remain a market leader
The past 12 months have been a tumultuous time for JP Morgan's commodities business.
On March 19, the bank announced it had agreed to sell its physical commodities business to Switzerland-based trading house Mercuria for $3.5 billion, following months of speculation about the future of the unit. Two weeks later, Blythe Masters, JP Morgan's New York-based global head of commodities, announced her intention to resign.
Like other US banks, JP Morgan has faced fierce regulatory scrutiny of its
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