JPMC promotes Winters and Wilson

JP Morgan Chase has promoted Bill Winters and Don Wilson, co-heads of the firm's credit and rate markets business - including credit and rate derivatives - to its 15-strong executive committee.

Also promoted to chairman and chief executive Bill Harrison's most senior management team were Dina Dublon, JP Morgan Chase's chief financial officer, and Steve Black, the head of equities who joined only a year ago from Citigroup’s Salomon Smith Barney.

The promotions of Winters and Wilson will reinforce perceptions that JP Morgan Chase has enjoyed a healthy year in the derivatives business, despite losses in its loan portfolio incurred by the bankruptcy of Enron and by Argentina's default.

Earlier this month, Risk magazine awarded JP Morgan Chase its Derivatives House of the Year, Interest Rates Derivatives House of the Year and Credit Derivatives House of the Year for 2002.