Under Pressure, JPMorgan To Sell Physical Commodities Unit

Law360, New York (July 26, 2013, 5:24 PM EDT) -- At the end of a week of close scrutiny of banks' trading in oil, aluminum, coffee beans and other physical commodities, JPMorgan Chase & Co. announced plans Friday to sell off its physical commodities business.

In a surprise statement, the New York-based banking giant said that it is “pursuing strategic alternatives” for its physical commodities business, including the potential sale of its remaining stocks of physical commodities and trading operations.

“To maximize value, the firm will explore a full range of options over time including, but...
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