Blythe Masters’ Work Here Is Done

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Having built and then been forced to sell JPMorgan’s commodities business, Blythe is going to take some me time.

Masters, who turned 45 in late March, will leave the bank in a few months after assisting with the sale of its physical energy and metals business to Swiss merchant Mercuria. Many observers had not expected her to remain with the business after its sale, although her future with JPMorgan was less clear.

She will take "time off" and "consider future opportunities," according to a memo bank executives sent to employees on Wednesday….

She is known for having been part of the team that pioneered structured finance instruments which others on Wall Street took to excesses that fueled the U.S. housing bubble and set up the financial crisis of 2008….

In 2013, the bank paid $410 million to the Federal Energy Regulatory Commission to settle allegations of power market manipulation in California.

While Masters was not cited for any wrongdoing, her name is referenced in the regulator's order a number of times. The bank neither admitted nor denied any violations in the case.

JPMorgan global commodities unit head Masters to leave: memo [Reuters]

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