Chris French, head of exotics and hybrids at JPMorgan in London, will retire in March. According to an internal memo, Bobby Magee, head of market risk in London, will succeed French. French declined comment and Magee did not return calls.
French took on responsibility for exotic derivatives across asset classes last summer (DW, 8/6) and has worked in both credit derivatives and equity derivatives at the U.S. house. In the memo, John Corrie, head of equities, and Fawzi Kyriakos-Saad, head of credit, said, "Chris has been a great innovator with countless new products to his name." The memo goes on to note, "Our leadership in the exotics and hybrids business owes a great deal to him."
The move follows news Bertrand des Pallieres, European head of derivatives marketing in London, will take a leave of absence from the bank (DW, 2/7).