JP Morgan 'blinks first' as dramatic staff cuts herald a new focus on vanilla products

sp-jan09-06-gif — Beat von Gunten, JP Morgan

- Structured Products staff
- 01 Jan 2009

JP Morgan has wrapped its retail structured products business (the so-called structured investments distributor marketing (SIDM)) into its institutional sales and marketing distribution arm, culling around half of its London-based staff, a change that will see Beat von Gunten, Oliver Jerome and Alan Kruger move away from the structured products team.

The bank will continue to provide structured

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