MILLING ABOUT: Metals veteran Schirmeister leaves JP Morgan

Christian Schirmeister reached an agreement to leave JP Morgan on Monday February 23, five years after joining the bank as part of the team it acquired from RBS Sempra, he confirmed to Metal Bulletin sister title Copper Price Briefing.

Christian Schirmeister reached an agreement to leave JP Morgan on Monday February 23, five years after joining the bank as part of the team it acquired from RBS Sempra, he confirmed to Metal Bulletin sister title Copper Price Briefing.

Schirmeister started his career as a physical metals trader at Metalgesellschaft in 1979 and, in 1995, moved to London to work with MG’s London Metal Exchange ring-dealing brokerage team, which was later acquired by RBS Sempra.

Alongside his trading and sales roles, he has chaired the LME copper committee since 2008 and is an active member of organisations including the International Wrought Copper Council and the International Lead and Zinc Study Group.

He reached an agreement to step down as an executive director for the global commodities group on Monday and will look for new opportunities after a period of gardening leave, he said on the sidelines of the Metal Bulletin Copper Conference in Brussels on Wednesday.

His departure follows the sale of parts of JP Morgan’s physical commodities trading business to Mercuria in a deal completed last year, which resulted in the departure of several other high-profile JP Morgan personnel, including Blythe Masters, the head of the bank’s global commodities business.

Physical traders Ivan Petev and Will Gayner left the bank around the time of the sale and are now working at Macquarie. Martin Squires, an executive director for commodity hedge fund sales, also left the bank last year and has now joined BNP Paribas, Metal Bullletin understands.

Mark Burton
mburton@metalbulletin.com
Twitter: @mburtonmb

What to read next
Fastmarkets will amend the specifications of its existing price assessments for Europe/US lithium spot battery-grade and technical-grade lithium hydroxide and carbonate to remove the US footprint, and will launch weekly price assessments for spot battery-grade and technical-grade lithium hydroxide and carbonate for the United States and Canada on Thursday April 4.
This initiative marks a significant step towards reducing industrial greenhouse gas emissions and championing the US in the global decarbonization effort
The most recent financial results published by base metals mining companies highlight just how inflation is affecting profit margins, with increasing wages, financing costs and input prices all hitting profits, sources told Fastmarkets in the week to Thursday March 28
Century Aluminum is among those selected to start award negotiations for up to $500 million in Bipartisan Infrastructure Law and Inflation Reduction Act funding to build a new aluminium smelter, the company said on Monday March 25
Fastmarkets launched its first price assessment for MB-FEC-0024 Ferro-chrome 50% Cr, delivered Europe, $/lb Cr on Tuesday March 26.
Fastmarkets has amended the publication date of the latest European charge and high-carbon ferro-chrome benchmark to reflect the date from which the benchmark applies after the price was erroneously published on the date it was announced (March 25).