JP Morgan ready to offload physical-commodities arm

摘要

JP Morgan Chase & Co could quit its highly profitable physical-commodities business as regulators upped the pressure on commercial banks trading risky assets. The Wall Street banking titan said it had concluded an internal review of the operations, which included power plants, oil contracts and metals warehouses and was considering "a full range of options over time including, but not limited to: a sale, spin off or strategic partnership of its physical commodities business". The operations were widely reported to account for as much as two-thirds of the bank's US$2 billion-plus in commodity revenues.