logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 


JPMorgan Throwing in Blythe Masters in Commodity Desk Sale

  +Follow September 17, 2013 12:52PM
Share:
Tickers Mentioned:

Litigation-racked investment bank JPMorgan & Chase Co. (JPM) put their multi-billion commodity desk up for sale back in July, looking for someone to take a wildly profitable but litigation-prone department off their hands. On Sept 17 the bank revealed they’re throwing in something else that has both made them a lot of money and caused them a lot of legal woes: wunderkind executive Blythe Masters, an executive renowned for her leadership, cunning, and proclivity for attracting the attention of government regulators.

Masters started at JP Morgan as an 18-year-old intern at their infamous London office, and quickly rose to head up their entire commodities department. The now 44-year-old Masters has been a divisive force in the company with her brash trades, making and losing fortunes. But there is no question she has a knack for making money, and her inclusion in the sale of the commodities desk has enticed investors.

Over 50 potential buyers have expressed interest in the unit, which JPMorgan is shedding as they face litigation from nearly every side of their business, Masters included.

In an investigation conducted by the Federal Energy Regulatory Commission, Masters was accused of lying under oath about her knowledge of an energy price-manipulation scheme that defrauded California and Michigan ratepayers of $83 million. JPMorgan eventually paid out a $410 million settlement in connection with the manipulation.

Masters has also been implicated in price fixing schemes involving silver, and was closely tied to the development and sale of the credit derivatives that would eventually plunge the entire globe into financial turmoil. Masters has become something of a pariah in the public eye concerning her involment in the development of credit-default swaps, with the Gurdian going as far as to label her  the "woman who built the financial weapon of mass destruction."

Despite ongoing investigations into her propriety, Masters is unquestionably adept, and has made a fortune for JPMorgan. She is held in incredibly high esteem by CEO Jamie Dimon, who promoted her to head up the commodities desk in 2006. Paul Fribourg, the chairman and CEO of major JPMorgan client Continental Grain is similarly impressed, and had previously said “Tell (Masters) if she’s looking for a job, she’d be first on our list.”

While the exact price of Masters’ services is up for debate, the commodities desk itself is quantifiably quite valuable, racking up $2.4 billion in revenue last year.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Signup for our daily newsletter and get our best articles emailed right to you!

Results for jpm
Tad Doughty, CFS
29 Mar 15 13:10:14
As of 12/31/14 - market valuations from $JPM $SPY $SPX $MACRO http://t.co/M5OMqJd1NC
Jeff Ho
29 Mar 15 13:01:50
RT @BDFoxworth: #BREAKING #GoogleTrends #Banking #algorithm #HFT #BigData #Grexit #Brexit #rt $BAC $C $GS $JPM $DB $MS $HSBC $SAN $SPY $NDX…
B. D. Foxworth
29 Mar 15 12:55:32
#BREAKING #GoogleTrends #Banking #algorithm #HFT #BigData #Grexit #Brexit #rt $BAC $C $GS $JPM $DB $MS $HSBC $SAN $SPY $NDX $NGB $AMZN $LNKD
P. F. Anderson
29 Mar 15 12:27:38
RT @jpmorgan: Seen in #Switzerland: A $JPM employee snapped this shot of a #Zurich sunrise towards the Alps. http://t.co/umxJBXA6Od
Tim Kelleher Corp
29 Mar 15 11:12:33
Timothy Kelleher Corp: #Barrons Cover Story - $JPM http://t.co/gUqn9Gsiyf
Luis Huete
29 Mar 15 10:52:03
Barron's: JPMorgan could rise more than 30% $JPM http://t.co/AP8nkB1Eh1
Luis Huete
29 Mar 15 10:50:26
JPMorgan holds on to top investment banking spot $JPM $GS $C $BAC $DB http://t.co/OG7wLsJsEe
Stock Wire
29 Mar 15 10:32:25
JPMorgan Chase demolishing office complex as company expands $JPM http://t.co/eDwxkYDk8r
Stock Wire
29 Mar 15 10:16:27
JPMorgan Chase demolishing office complex as company expands $JPM http://t.co/THL0mZbayk
Vxepico
29 Mar 15 10:02:44
RT @BarbarianCap: Barron's cover: criminality is now "regulatory tumult" what a disgrace. $jpm http://t.co/iRqhZ4lZpZ
David
29 Mar 15 09:33:42
@jimcramer my list of #stevejobs like CEOs $UA $TSLA $RH $CRM $SBUX $GPRO $BRK-A $FB $HAIN $CMG $NFLX $JPM $AMZN $TMUS $PPG $DPZ $HON $REGN
Stock Wire
29 Mar 15 09:28:15
Vodafone Group plc Earns "Overweight" Rating from JPMorgan Chase & Co ... $JPM http://t.co/NuNkrk5xMb
Harvard Winters
29 Mar 15 09:10:07
Interesting Barron's cover story on JPMorgan Chase and Jamie Dimon. Read my comments (subscription required). $JPM http://t.co/XKF2xgZysZ
David
29 Mar 15 08:53:23
@jimcramer Sir do you think (now that "londonwhale" and major settlements are done) that $JPM has its mojo back as the #BESTofBREED ??
Investing Insight
29 Mar 15 08:46:57
barronsonline: “We were tried, tested, and true during the worst of times,” says JPMorgan's Jamie Dimon. $JPM http://t.co/yEwree9w1g
Barron's
29 Mar 15 08:32:10
“We were tried, tested, and true during the worst of times,” says JPMorgan's Jamie Dimon. $JPM http://t.co/Ce1gfkdV5J
Carolyn B Miciano
29 Mar 15 08:20:21
Powerful swing trades from 3 days to 3 weeks http://t.co/I9QsYPWJkK $JPM $BA $BAC
Johnson and Toxin
29 Mar 15 08:16:13
@CarmineZozzora @AllenWest so follow money all the way to it's new home at $JPM ;o) Oh, and $JNJ CEO got raise from $17 to $25 MILLION 2014.
iHangout
29 Mar 15 07:37:10
chartguy89: 2015 Trending Stocks: JPM +0.02% Stock Charts $JPM JPMorgan Chase & Co. http://t.co/qfsp9UCHBR
chartguy89
29 Mar 15 07:31:28
JPM +0.02% Stock Charts $JPM JPMorgan Chase & Co. (NYSE) Last Updated: 03/29/2015 09:31:28 JPM Stock Chart - 1 http://t.co/XFW2uRb4x8
Paul Lepkowski
29 Mar 15 07:27:54
RT @rcwhalen: Chase Eliminating 100s of NY Mortgage Jobs $JPM
Stock Wire
29 Mar 15 07:21:08
Diageo plc's "Underweight" Rating Reiterated at JPMorgan Chase & Co. (DEO) $JPM http://t.co/p0OuXncYK3
Annie
29 Mar 15 06:54:36
RT @ACInvestorBlog: $JPM Daily chart with pivot points. http://t.co/fkFAHmBEBF
R.Randall Halton
29 Mar 15 06:19:06
RT @barronsonline: $JPM: The biggest U.S. bank is stronger than ever under Jamie Dimon’s skilled leadership. http://t.co/Ce1gfkdV5J http:/…
Ophir Gottlieb
29 Mar 15 06:04:49
$BAC vs. $C vs. $JPM Compared Across 9 Critical Measures Chart: http://t.co/9SPd5t7tm3
Capital Market Labs
29 Mar 15 05:58:48
$JPM vs. $WFC vs. $C vs. $BAC Compared Across 9 Critical Measures Chart: http://t.co/gl9tD4emd0
Vantage Point
29 Mar 15 05:40:03
Isn't this what $JPM did to the $BSC Bldg? "Inside a bank turned luxury home: http://t.co/1Q4IvJA1lf via @CNNMoney"
Ophir Gottlieb
29 Mar 15 05:34:51
$BAC vs. $WFC vs. $JPM vs. $USB Compared Across 9 Critical Measures Chart: http://t.co/emnKhxLp02
Breaking News Now
29 Mar 15 04:55:03
$JPM: Home Loans: Mortgage Rates at Chase, Capital One Mar 29, 2015: http://t.co/5ERqA7VB9f
BreakingStocksNews
29 Mar 15 04:35:04
$JPM: Mortgage Rate Summary for Chase, HSBC Mar 29, 2015: http://t.co/DtWlOje7GX
ZOZO
29 Mar 15 04:26:03
$JPM Barron's: JPMorgan could rise more than 30%
Brad W
29 Mar 15 04:23:19
RT @barronsonline: $JPM: The biggest U.S. bank is stronger than ever under Jamie Dimon’s skilled leadership. http://t.co/Ce1gfkdV5J http:/…
bored2tears
29 Mar 15 04:19:29
Investment #banks eye trading boost from ECB stimulus. http://t.co/qzR6GdFnCe $BNPQY $DB $HSBC $JPM $SCGLY
Abdulaziz
29 Mar 15 04:15:10
RT @MyMoneyWisdom: Picking a new bank http://t.co/BVQ7cUORjf $BAC $USB $WFC $KEY $JPM $V $MA $DFS $AXP #Banking #BankingServices
My Financial Wisdom
29 Mar 15 04:02:00
Picking a new bank http://t.co/BVQ7cUORjf $BAC $USB $WFC $KEY $JPM $V $MA $DFS $AXP #Banking #BankingServices
Antonio Costa
29 Mar 15 03:22:03
$JPM Daily chart with pivot points. http://t.co/fkFAHmBEBF
Ophir Gottlieb
29 Mar 15 03:17:13
Largest Banks Assets 1. $FNMA 2. $JPM 3. $BAC Full Chart: http://t.co/ijXASxvNsW
Capital Market Labs
29 Mar 15 01:48:56
$JPM Bad Loans are Declining. Chart: http://t.co/egOmgoJe6c https://t.co/7DhzQgdc9Z
سعود السميران
28 Mar 15 23:48:57
Exclusive: Resisting Demands to Buy Back Billions in Mortgages - $BAC $JPM $FRE $FNM ^gm
rashid noorani
28 Mar 15 23:31:13
RT @jpmorgan: Seen in #Switzerland: A $JPM employee snapped this shot of a #Zurich sunrise towards the Alps. http://t.co/umxJBXA6Od
Stock Wire
28 Mar 15 23:10:13
Kraft Foods Group Earns "Hold" Rating from JPMorgan Chase & Co. (KRFT) $JPM http://t.co/BawZlAb3fp
Clark Joseph Kent
28 Mar 15 22:48:25
Barron's: JPMorgan could rise more than 30% $JPM http://t.co/s2nMoyQUkH
Donn Herring
28 Mar 15 22:27:38
RT @OphirGottlieb: Largest Banks Cash from Operations 1. $C 2. $JPM 3. $BAC Full Chart: http://t.co/mVmUv3MB03
Ophir Gottlieb
28 Mar 15 22:17:14
Largest Banks Cash from Operations 1. $C 2. $JPM 3. $BAC Full Chart: http://t.co/mVmUv3MB03
TalkMarkets
28 Mar 15 21:39:01
The New Normal - Financial Review $SOXX $INTC $ALTR $OIL $GREK $JPM http://t.co/dUxBI6N0bJ
Capital Market Labs
28 Mar 15 20:51:04
Largest Banks Earnings 1. $WFC 2. $JPM 3. $FNMA Full Chart: http://t.co/Nq3w0eGEjv https://t.co/x98qiYd3dx
gustavo rapisardi
28 Mar 15 20:41:59
Barron's: JPMorgan could rise more than 30% http://t.co/EydXn6jGMT $JPM
Jahi Faucette
28 Mar 15 20:37:21
RT @CML_VisualFeed: Largest Banks Earnings 1. $WFC 2. $JPM 3. $FNMA Full Chart: http://t.co/Nq3w0eGEjv https://t.co/x98qiYd3dx
Ophir Gottlieb
28 Mar 15 20:34:51
$BAC vs. $JPM vs. $WFC vs. $USB Compared Across 9 Critical Measures Chart: http://t.co/CdowwOBkIi
Cynthia Nevels
28 Mar 15 19:30:11
RT @Chase: $JPM’s Thasunda Duckett named one of @BlackEnterprise’s most powerful women: http://t.co/qLmaiaDRS3 #wobiz http://t.co/SJEZ2ZHMsH
				
				
  +Follow September 17, 2013 12:52PM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.