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More FX changes at JPMorgan

JPMorgan is poised to unveil further changes to its foreign exchange (FX) business.

Adam Burke, head of currencies and commodities Europe, will take an eight-month sabbatical from the bank at the end of January.

The news comes just a month after the sudden resignation of David Puth from his role as head of global currencies and commodities. Burke is described by those who know him as very level headed, well liked and competent.

A JPMorgan spokeswoman says that Burke is currently working on the transition with the new management. Burke will hand over the European FX business to three managers, including Troy Rohrbaugh, who joined the bank from Goldman Sachs in August 2005 and who was head of EMEA FX trading.

Rohrbaugh will now run global FX options trading, as well as all European FX trading and structuring. Brian Tomeo, who has been at JPMorgan for 12-years, will run European FX sales, while Jamie Bonic will be responsible for global FX sales to custody and payment clients. All three will report to New York-based Rob Lichten, global head of FX sales and trading.

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