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

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.

Raymond James hauls Ameriprise advisors managing $1.1B in New York
Raymond James hauls Ameriprise advisors managing $1.1B in New York

Elsewhere, Sanctuary Wealth recently attracted a $225 million team from Edward Jones in Colorado.

Cetera debuts new alts allocation portfolios for accredited investors
Cetera debuts new alts allocation portfolios for accredited investors

The giant hybrid RIA is elevating its appeal to advisors with a curated suite of alternative investment models, offering exposure to private equity, private credit, and real estate.

Steward Partners expands in California with $1.1 billion RIA acquisition
Steward Partners expands in California with $1.1 billion RIA acquisition

The $40 billion RIA firm's latest West Coast deal brings a veteran with over 25 years of experience to its legacy division for succession-focused advisors.

Invictus managers withhold $10M, trigger ERISA asset showdown
Invictus managers withhold $10M, trigger ERISA asset showdown

Invictus fund managers allegedly kept $10 million in plan assets after removal, setting off a legal fight that raises red flags for wealth firms.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.