JPMorgan's Bart Broadman, Asia-Pacific vice chairman and head of credit and rates in Singapore, has assumed responsibility for the regional equity business and has been named head of Asia-Pacific markets in a reorganization. Broadman was traveling and could not be reached.
As a result of the move, Nick Andrews and David Hancock, co-heads of institutional equities in Hong Kong and Tokyo, respectively, now report to Broadman regionally in addition to reporting lines in New York. "This increases regional accountability and puts trading under one head," added an insider. The move makes sense given the increasing focus on cross-asset class products, he noted.
"This is part of a realignment that gives us a more integrated business model," said Pholida Phengsomphone, spokeswoman in Hong Kong. The move follows a series of senior management moves that have also given Steve Black, global head of equities in New York, responsibility over North American investment banking.
