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Derivatives

JPMorgan Hires Equity Maven For Prop Group

JPMorgan has landed David Beever, former head of liquid equity trading at TD Securities, to fill a new slot to run proprietary equity trading across derivatives and cash.

JPMorgan has landed David Beever, former head of liquid equity trading at TD Securities, to fill a new slot to run proprietary equity trading across derivatives and cash. As executive director in its London chief investment office, Beever will join a macro fund that has not previously invested in equity.

Beever starts at JPMorgan this week, reporting to Achilles Macris, chief investment officer for Europe, the Middle East and Africa. Macris did not respond to messages by press time and Beever referred calls to JPMorgan, where Mike Golden, spokesman, declined additional comment.

Beever left TD early last year. Prior to joining the Canadian firm, he managed a volatility arbitrage fund for London-based investment manager Astin Capital and headed equity volatility trading at Barclays Capital. He also held trading roles at Chase Manhattan and Credit Suisse Financial Products.

A former colleague said Beever is an extremely capable trader and his time at Astin gave him fund management experience, standing him in good stead for the role. Details about the scale of the fund and why JPMorgan is looking to expand it into equity at this time could not be determined.

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