"Even if only the first source of value inherent in our valuation of the company, i.e. its pre-2012 portfolio, were the only thing to come forth we would end up being very happy with our acquisition," Masters said in an interview late on Monday....Commenting on managing risk:
Masters said the acquisition would help JP Morgan clients better manage risks in fluctuating commodity prices.
"The reason for our expanding in the carbon space is consistent with our overall thesis that commodity markets as a whole will continue to be extremely active and volatile ... as a function of economic activity and other policies," she said.
"Carbon is just a part (of JP Morgan's business model), and an important component because of its linkages to the rest of the energy complex and to various regulatory changes going on."
Masters said a new EcoSecurities CEO will be named soon, "and from there we will review the overall structure of the company to make sure we don't have any overlapping activities that are confusing to clients".Read the full Blythe Masters EcoSecurities article here.