Energy boss leaves JPMorgan Chase

George “Beau” Taylor, JPMorgan Chase & Co.’s energy-trading head has quit to join the Credit Suisse Group, according to published reports.
Mr. Taylor will start his new job later this year, according to people cited in the report.
His resignation comes just two years after he left Morgan Stanley to the lead bank’s gas- and power-trading group, bringing with him former colleagues from Morgan Stanley.
He was overseeing the energy-trading desk when one of the bank’s biggest futures-trading clients, Amaranth Advisors LLC, lost $6 billion, largely from bad natural-gas bets last year.
JP Morgan made an estimated $725 million amid Amaranth’s collapse by joining with Citadel Investment Group LLC, a Chicago-based hedge fund, to take over Amaranth’s positions.
The bank faced questions about the money it made from a client, but touted its ability to seize on opportunities.
JPMorgan Chase is based in New York.