JPMorgan is restructuring its Asian equity derivatives business on the back of a senior transfer to New York. David Long, managing director and head of equity derivatives in Hong Kong, this week relocates to New York to oversee flow, convertibles, equity exotics, hybrids and equity structured investments.
Long is one of the most high-profile and well-compensated equity derivative pros in the region, noted market officials. He is also the co-owner of the U.K.'s Pizza Express franchise in Hong Kong.
"David, an experienced leader and risk taker, will help us develop and execute an integrated strategy around all of these products," said Carlos Hernandez, global head of equities in New York, in an internal memo obtained by DW. As part of the move, Long will also look to build up the retail structured products business, which is seen as a major growth area in the U.S., following the firm's experience in the booming retail market in Asia. Long was traveling and could not be reached.
Additionally, Patrick Moisy, head of Asia-Pacific proprietary trading and rates trading for Japan, based in Tokyo, will assume responsibility for equity derivatives and cash trading for Asia including Japan. Nick Andrews, head of Asia-Pacific equities in Hong Kong, has also been named head of emerging markets for global equities and will split his time between Hong Kong and London.
