JP Morgan breaks up currencies and commodities group

Steve Black and Bill Winters, New York-based co-chief executives of the investment bank, have announced a plan to merge G-10 currencies with the bank’s rates business, while coupling emerging-market currencies with the emerging markets group. In an internal memo, they said the plan would allow the bank to “better manage common market risks and offer clients better coverage and execution”.

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”.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

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 individual account here