Merrill nabs 23 marketers from JP Morgan



Merrill Lynch's raid on JP Morgan's derivatives marketing unit has resulted in 23 derivatives marketers joining the US securities dealer. The move is one of the largest derivatives team defections seen in Europe, and appears to contradict JP Morgan's official line that the spate of top derivatives talent leaving the bank during the past several months was part of "usual staff turnover" after bonuses.

Merrill Lynch's coup took place when it lured Antonio Polverino to the firm as its co-head of

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