JPMorgan Chase Exploring Divestment Options for Commodities
JPMorgan Chase is sniffing around for big-time investors that might be interested in buying raw goods like coal and silver. The sprawling financial services firm revealed that it is "pursuing strategic alternatives" for its commodities operations. These alternatives include a sale, a spin-off, or a strategic partnership.
The assets concerned include the company's stakes in commodities-related businesses, in addition to its trading operations.
The announcement follows the conclusion of an internal review conducted by the firm.
Nevertheless, JPMorgan Chase sounded a reassuring note in the press release announcing the news. The bank said it "will remain fully committed to its traditional banking activities in the commodity markets, including financial derivatives and the vaulting and trading of precious metals."
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