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To: Jim Willie CB who wrote (4805)	8/19/2002 4:32:20 PM
From: 4figureau	Respond to of 89467

JP Morgan's Gold Bullion Risk Mgr Leaves Company >>"We've basically lost a good portion of our business through the greatly reduced producer hedging levels out there, and so the bank is cutting back personnel in the area," Eckert said.<< Story Filed: Monday, August 19, 2002 12:35 PM EST New York, Aug 19, 2002 (ODJ Select via COMTEX) -- (OsterDowJones) - Don Eckert, gold bullion risk manager at JP Morgan Chase in New York is leaving the company, he told OsterDowJones Monday. Eckert's last day is Monday. Eckert said that his departure comes with mutual consent and fits in with the bank's downsizing initiative enacted in response to the slowing business levels in the gold division in the wake of the reduction in producer hedging. "We've basically lost a good portion of our business through the greatly reduced producer hedging levels out there, and so the bank is cutting back personnel in the area," Eckert said. "We're still offering the same services as before, there's just no need for the same amount of people anymore," he said. The gold bullion risk outfit will now be headed by Neil Clift out of the bank's London offices, according to Eckert. library.northernlight.com