Energy boss leaves JPMorgan Chase

George "Beau" Taylor, JPMorgan Chase & Co.'s energy-trading head has quit to join the Credit Suisse Group, according to published reports.
MAY 16, 2007
By  Bloomberg
George "Beau" Taylor, JPMorgan Chase & Co.'s energy-trading head has quit to join the Credit Suisse Group, according to published reports. Mr. Taylor will start his new job later this year, according to people cited in the report. His resignation comes just two years after he left Morgan Stanley to the lead bank's gas- and power-trading group, bringing with him former colleagues from Morgan Stanley. He was overseeing the energy-trading desk when one of the bank's biggest futures-trading clients, Amaranth Advisors LLC, lost $6 billion, largely from bad natural-gas bets last year. JP Morgan made an estimated $725 million amid Amaranth's collapse by joining with Citadel Investment Group LLC, a Chicago-based hedge fund, to take over Amaranth's positions. The bank faced questions about the money it made from a client, but touted its ability to seize on opportunities. JPMorgan Chase is based in New York.

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound