Sept. 18 (Bloomberg) -- JPMorgan Chase & Co., the biggest U.S. bank by assets, said Paul Posoli is rejoining the commodities unit to help manage the sale of the company’s physical commodities operations.
Posoli, 44, who’s returning from a sabbatical, will report directly to Blythe Masters, JPMorgan’s commodities head, and might be part of the the new company’s management team after the sale is completed, Masters, 44, said today in a memo to employees and obtained by Bloomberg News.
“While it is impossible at this stage to predict what the outcome of that process will be, we anticipate that if those businesses are sold as a new, going concern, Paul would be part of the new company’s management team,” Masters wrote. “It need not be said that we are extremely fortunate to have someone of Paul’s caliber, expertise and knowledge of the industry be integrally involved in charting the future of our business.”
--Editors: Peter Eichenbaum, Christine Harper