The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

GCC head at JPMorgan resigns

Head of Global Currencies and Commodities at JPMorgan has suddenly resigned.

FX market participants are shocked by the news that David Puth, head of Global Currencies and Commodities at JPMorgan has suddenly resigned.

Puth saw his star rise steadily at JPMorgan, where he was considered a long-term survivor. He originally joined Chemical Bank in New York from Citi, where he traded spot cable, in 1988. Since then, he emerged unscathed from Chemical’s merger with Manufacturer Hanover Trust, that entity’s absorption by Chase Manhattan, the take over of JPMorgan and then the latest deal with Bank One.

Well-placed sources say that recently Puth has stood out as a star performer, with foreign exchange and then the volatile energy areas outshining other business units.

After a restructuring at the bank earlier this year, Puth also assumed responsibility for emerging markets business. FX players are particularly surprised at the timing of Puth’s move, coming at the end of the year and before bonuses are agreed, let alone paid out.

JPMorgan spokesman Michael Golden confirmed that Puth is leaving the firm at the end of 2006 to pursue other interests. Blythe Masters, chief financial officer of JPMorgan investment bank, who joined the bank as a trainee commodity trader in 1991 after graduating from Trinity College Cambridge with a degree in economics, will assume responsibility for GCC.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree