JP Morgan unwraps repackaging programme

JP Morgan Chase last month launched its first repackaging programme in an attempt to expand its market share in this $30 billion market. The e10 billion-capacity platform, named Corsair after Pierpont Morgan’s yacht, will allow it to issue repackaged products in a wide variety of jurisdictions and formats, says Stephen Stonberg, head of JP Morgan’s newly created Risk Transformation Group (RTG). But JP Morgan has some way to go before it can catch up with Deutsche Bank, the dominant firm in t

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