"Daniel Pinto, JP Morgan’s chief executive of Emea and co-head of global fixed income... ...also singled out the commodities business as a stand-out performer within the fixed-income franchise, in a quarter in which several banks, including Goldman Sachs and Barclays Capital, reported disappointing results for the business.
Pinto said: “The second-quarter results show that the full franchise is running on all cylinders. The commodities business has performed strongly this year, and we are starting to monetize the fantastic global client platform that Blythe Masters [JP Morgan’s head of global commodities] has built. The units we’ve acquired have settled in, and we now have a great offering across physical and derivatives products.”
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