JP Morgan nabs two from Lehman

JP Morgan has made two senior hires in trading and sales from Wall Street rival Lehman Brothers.

Andrew Simon will join towards the end of August as head of global clients in the bank’s currency and commodities group. Simon will be responsible for the sale of currency and commodity products to those clients based in multiple time zones.

He will also be responsible for the European sales teams covering central banks, hedge funds and asset managers that operate in a similar style to hedge funds. He will jointly run the commodities hedge funds team with Jose Cogolludo.

Simon will be based in London and report to Jamie Bonic, European head of institutional sales. At Lehman, he was head of foreign exchange derivatives marketing.

In New York, Benjamin Ho has been hired as head of the credit derivatives index tranche trading desk for North America.

Ho has already taken up the position and reports to Andrew Silver, head of credit exotics and hybrids trading in North America. At Lehman, he worked as a senior credit correlation trader.