JP Morgan rationalises marketing units in credit and rates

JP Morgan Chase has rationalised sales and marketing in its European credit and rates business, according to a internal memo by Tony Best, the London-based head of European investor client management, on April 1.

Financial institutions will continue to be organised along geographical lines with Ian Slatter heading teams for the UK and Ireland, as well as for credit hedge funds. Lode Keijser will oversee Germany, Austria, Switzerland, Scandinavia and the Netherlands; while Ian Wilson will head financial institutions derivatives marketing (FIDM) for the same countries. Eric Viet will run efforts in France, Belgium and Luxembourg and continue to lead the insurance and pensions group, which is expected to consolidate its operations across difference regions.

Meanwhile, Andrea Vella and Alessandro Barnaba will lead the teams for Italy, Spain, Portugal, Central and Eastern Europe, the Middle East and Africa. Barnaba will focus on emerging market derivatives while Vella will chair the weekly FIDM credit meetings that drive the development of JP Morgan’s bespoke credit derivatives products.

The memo, abtained by RiskNews, also confirmed the appointments of Antonio Polverino to head corporate derivatives marketing on March 17 and Oldrich Masek as co-head of global structured credit on March 14.

In addition, the memo confirmed Sikander Ilyas as head of rates sales and Almudena Pena as head of business management.

Meanwhile, Paolo Cuniberti is to set up an integrated unit to develop the bank’s hedge fund business and David Hitchcock will continue to head the bank’s asset management operations.

“We are focused on building a team that will integrate its functions and share resources as much as possible, giving us the best chance to… minimise duplication,” said Best.