JPMorgan has hired Lawrence Gibbs, an equity derivatives volatility trader at Millennium Partners in New York, for a new v.p. role in the chief investment office group run by Ina Drew, cio. Gibbs referred calls to Brian Marchiony, spokesman, who said the group is expanding, but did not comment on details of the role.
Gibbs is the most recent of Millennium's departed five-person equity volatility trading group to resurface. Joe Farrell recently joined the proprietary trading desk at Merrill Lynch in New York (DW, 9/15). Chris Leone, portfolio manager,Bill Bane and David Frakes, are still on gardening leave. Reached on his cell phone, Leone declined comment on their plans or the reason for their departure. Leone, Gibbs, Farrell and Bane joined Millennium last year from Deutsche Bank.
Calls to Millennium were not returned by press time.