MELBOURNE: Metals industry veteran Christian Schirmeister has left JP Morgan, one of the last members standing of what was once Metallgesellschaft AG, a company that defined an era of trade in metals.
Schirmeister, an executive director of global commodities, told Reuters on Monday he left the bank last week. Schirmeister started with the legendary metal trading firm that spawned the likes of Michael Farmer of metals trading goliath Red Kite, in Frankfurt in 1979.
He rode out its transformations into Enron Metals in 2000, Sempra and RBS later that decade, and eventually into JP Morgan, after RBS sold the division in exchange for government aid during the depths of the financial crisis.
JP Morgan said in July 2013 that it was exiting physical commodities trading, but it has retained its metals brokerage business, keeping its London Metal Exchange floor trading team.
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