JPMorgan Follows UBS Cutting Carbon Jobs as Permits Plunge
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Investment banks are cutting traders and analysts in climate-related businesses as a slump in shares and carbon emission permits coincides with a deadlock in international climate talks.
JPMorgan Chase & Co. Managing Director for Environmental Markets Odin Knudsen left his post in New York by mutual accord after his team was shrunk, while UBS Securities LLC fired Vice Chairman Jon Anda and his Climate Policy Group co-workers, Anda and Knudsen said in interviews. Ben Lynch left his London job as a renewables equity analyst for Commerzbank AG and his workload has been taken on by his former colleague on the renewables team, company spokeswoman Claire Tappenden said. The departures took place since September.