Blythe Masters, JPMorgan's commodities head, withdrew from an advisory committee of the U.S. Commodity Futures Trading Commission a day after her appointment was disclosed, according to two people with direct knowledge of the decision.
Bloomberg News reports that the regulator may include another executive from New York-based JPMorgan on the global markets committee, said one person close to the bank who requested anonymity because the move hasn’t been publicly announced.
Masters, 44, stepped down because the company’s sale of its physical commodities unit will keep her occupied, the person said.
JPMorgan is selling a division that deals in assets such as metals and oil, as government watchdogs examine whether federally backed lenders should be involved in such markets. Masters’s appointment drew criticism from Twitter users who questioned the propriety of her advising the regulator of futures and swaps.
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