JPMorgan hires 7 people in Singapore

JPMorgan Chase & Co. hired seven bankers and traders from rivals including Goldman Sachs Group Inc. and Morgan Stanley to boost its commodities business in Asia- Pacific, according to an internal memo.

The firm hired Justin Hyde from Barclays Plc as head of Asia investor sales and structuring and Subhramit Das from UBS AG as senior commodities structurer. Goldman Sachs’s David Wang joined as senior metal marketer, according to the document, which was confirmed by JPMorgan’s Hong Kong-based spokeswoman Marie Cheung. Among other hires were Damian Au, formerly with Geneva-based commodity trader Vitol Group, as a senior coal trader; Credit Suisse Group AG’s Daniel Soong as senior oil derivatives trader; and Ken Leask from Morgan Stanley as crude oil trader, according to the memo. All seven recruits join in Singapore as executive directors.