JP Morgan Chase denies speculation on energy trading exit

David Puth, JP Morgan Chase’s global head of forex, whose remit includes managing the firm’s energy business, has denied the bank was planning to exit the energy business in Europe, or elsewhere, despite losing a raft of key energy traders in the past few weeks.

“This is not a business we intend to exit,” Puth told RiskNews. “We still have a sizeable team committed to the energy business and still consider it part of our strategic platform.”

But JP Morgan Chase refused to comment on how many energy traders still worked at the firm or whether it planned to replace the traders that had recently left.

See related story JP Morgan Chase may exit European energy business.

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