JPMorgan has reorganized the flow products desk within its risk transformation group and given it a global focus. Stephen Stonberg, managing director and head of European credit derivatives marketing in London, and Andrew Palmer, managing director and head of U.S. credit derivatives marketing in New York, will each continue to run the risk transformation groups regionally, but Stonberg will be responsible for funded flow products globally and Palmer will be responsible for unfunded flow products globally, Stonberg said.
Although the group already has staff in Asia and the U.S., JPMorgan is trying to increase communication between the flow products portion of the groups to take advantage of cross-border marketing opportunities. Structured products was not run as a global unit before because it is a regionally driven business, Stonberg noted.
Separately, JPMorgan is looking at selling structured credit products through funds for the first time and plans to have them available to investors this fall. In addition, the firm is making a push to market its structured credit products through private banks in Europe, Stonberg added.
