Malcolm Perry, head of credit trading at J.P. Morgan in Japan, is moving to London in the next couple of weeks to become European and Asian head as well as global co-head of the derivatives counterparty exposure management (DCEM) group.
He will report to Andy Brindle, global head of DCEM and credit derivatives trading in New York. Brindle added, the other co-global head and head of the Americas for DCEM is Piers Murray. Perry replaces Eric Boulot who retired last month after 14 years, according to Brindle.
DCEM's job is to facilitate large and exotic derivatives transactions. Brindle explained the department works alongside structurers to make trades less credit intensive. For example, it could increase the collateral the counterparty has to post to make a trade less credit intensive and therefore more acceptable to the bank.
