In what JPMorgan describes as a new role, Dawe will run all aspects of the bank's Asia-Pacific commodities business, including sales, trading and principal investing. All the regional business units will report into him, where previously they only reported into global heads.
Dawe was previously co-head of the Asia commodities business at Goldman, where he had worked for 10 years, and president of the Singapore office. He will continue to be based in Singapore and reports to Blythe Masters, the global head of commodities, and locally to Gary Abdelnour, JPMorgan's chairman and chief executive for Asia-Pacific.
In addition to Dawe, the bank has added 11 new hires to its Asian commodities businesses û in energy trading, energy marketing, metals marketing and commodity structuring. Most notably, it hired Ouyang Xiuzhang last month as head of the Asia energy trading team after nine years at Goldman.
"Organic growth, combined with the complementary capabilities of Bear Stearns' energy business, has created a world-class commodities platform and we are attracting the industry's most exceptional people," says Masters.