Mike Koegler, v.p. derivatives marketing to financial institutions at J.P. Morgan, has taken the new position of managing director, in derivatives marketing to financial institutions at Bear Stearns in New York. Peter Croncota, senior managing director and global head of fixed income and credit derivatives marketing at Bear Stearns in New York, said "Mike is the kind of guy you hire when he's available." He added that the bank's institutional client base is steadily growing, and Koegler will ensure quality coverage. Koegler markets fixed income, credit, and equity derivatives, but historically has focused on interest-rate products. Going forward he will work with all three areas.
Koegler worked at Chase Manhattan prior to the merger with J.P. Morgan. He said that he felt that the fixed income business at the bank had become increasingly proprietary-trading oriented over the last several years, following a reorganization in the group. He did not anticipate that focus changing following the merger. Bear Stearns is more client-oriented, he added. At Chase, he reported to Chris Harvey, managing director, head of fx and derivatives sales in New York. Harvey declined comment via his secretary. The financial institutions marketing group for interest-rate derivatives at J.P. Morgan has been hit hard recently, as a number of marketers have left (DW, 2/5).
