NEW YORK, May 6 (Reuters) - JPMorgan Chase & Co has appointed veteran traders John Anderson and Michael Camacho as co-heads of its commodities business, replacing Blythe Masters, as the bank prepares to sell its physical commodities business.
The appointments are effective immediately, the bank said in an internal memo on Tuesday. A spokesman for the bank confirmed the appointments.
The news comes a month after Masters, one of Wall Street’s most powerful women, announced plans to leave after a 27-year career during which she built one of the biggest commodities businesses on Wall Street.
She will stay on until the bank has completed the sale of its physical commodities business to Mercuria, the memo said.
Anderson was most recently global head of non-oil energy trading and has also served as global head of market risk for commodities, and global head of metals, foreign exchange and proprietary trading.
Camacho was previously CEO of Commodities for Europe, Middle East and Africa, and global head of non-energy trading, responsible for metals, investor products and agriculture.
Before that, he served as global head of market risk for commodities, and global head of metals, foreign exchange and proprietary trading.
They will report to James Kenny and Troy Rohrbaugh, who were appointed co-heads of global rates, commodities and emerging markets in early April.
“We are confident our franchise will continue to be recognized for our commitment to clients, and our dedication to providing them with the products they need across the range of Commodities products and services,” the memo added. (Reporting by Anna Louie Sussman.Editing by Andre Grenon)