European Credit Derivatives House Of The Year
Over the last year JPMorgan has led from the front in driving the efforts to improve market transparency and infrastructure in European credit, according to users and peers. Clients praised the firm for providing local single-name liquidity--particularly during the aftermath of major credit events such as the bankruptcy filing of Calpine and Dana Corp.--and its ability to customize managed synthetic structures, notably long/short and principal-protected deals. Headed on the flow side by Guy America and on the structured side by Kathy Sutherland and Peter Meijer, end users talked of its consistency and willingness to take risk. They also cited the output of high-caliber research and trading ideas at a time when other firms were cutting back.
Peers in the region identified JPMorgan as the leader among major dealers working with regulators to clear up the backlog of unconfirmed trade assignments and improve operational efficiency.
* ABN AMRO * Barclays Capital
* Deutsche Bank * Lehman Brothers