J.P. Morgan Securities released Rick Patton, a senior high-grade salesman last week, according to several sell-side salesmen at rival firms. The move was confirmed by several of Patton's sales colleagues at J.P. Morgan. Patton could not be reached, and Bryan Weadock, head of corporate bond sales at J.P. Morgan, did not return calls. The move surprised a number of salesmen, as Patton had an excellent reputation on the Street. At least two rival sales desk heads say that they will take a serious look at hiring him. One says clients called him up and told him to hire Patton, while the other fears he may be drawn into a bidding war to hire him. Patton's buy-side clients were said to have included New York Life, Alliance Capital, Weiss, Peck & Greer and Tattersall Advisory Group.
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