"For J.P. Morgan Chase & Co., buying the global component of RBS Sempra Commodities amounts to taking one task off its to-do list.
The bank's historic strength in investment banking had long been the fixed-income business--but several years ago, its managers started to beef up equities and commodities products and trading world wide to improve the standing of J.P. Morgan with large business clients.
With capital at hand, J.P. Morgan will continue to expand, particularly in the cash equities business along the lines of Tuesday's deal."
"This is the last piece of the commodities business that was missing" in a three-year process that basically started from scratch, said Blythe Masters, J.P. Morgan's head of Global Commodities, in an interview with Dow Jones Newswires en route to Connecticut, where the operations J.P. Morgan is acquiring are based."
"What we now have is a business that is complete globally, complete around asset classes" like power, gas, oil, and metals, "and complete in terms of both financial and physical services and products," Masters said.
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