JPMorgan Chase & Co. named Michael Camacho as chief executive officer of its commodities activities in Europe, the Middle East and Africa to succeed Catherine Flax, who will become chief marketing officer.
Camacho will also retain his duties as global head of metals, reporting to worldwide commodities chief Blythe Masters, spokesman Patrick Burton in London said today by phone. Camacho will relocate to London from New York, according to Burton.
Flax, who has headed the EMEA commodities unit since January 2010, will move to New York and report to Mary Erdoes, chief executive officer of the asset-management unit, the spokesman said.
Camacho was head of global structured commodities before becoming metals chief this year to succeed Peter Sellars, who retired. Flax joined JPMorgan, the largest U.S. bank by assets, in 2005 from UBS AG.