JPMorgan in London has combined its equity, credit and rates derivatives marketing and exotic teams. The firm has named Bertrand des Pallieres as head of the combined marketing team and Chris French as head of the exotics group. Des Pallieres retains his former responsibilities for credit marketing to financial institutions, along with his role as head of derivatives marketing for Europe, the Middle East and Africa. Sarah Oppler, spokeswoman for JPMorgan in London, confirmed the move, but declined further comment.
Marketing heads across derivatives now report to des Pallieres, rather than to the head of a particular asset class.
Axel Kilian and Andrea Morresi, co-heads of equity derivatives marketing to financial institutions, and Manish Mahajan, head of rates marketing to financial institutions, report to des Pallieres. Salvatore Di Stasi, head of corporate equity derivative sales, and Antonio Polverino, head of corporate rates and credit derivative sales, also now report to des Pallieres.
On the trading side, French, formerly head of credit hybrids and equity hybrids trading, has added exotic derivatives and hybrid rates to his remit. The heads of exotic trading for each asset class now report to French rather than the head of their asset class.
JPMorgan's move comes as part of a trend in which firms are attempting to make the groups work more closely to capture cross-asset class business, such as capital structure arbitrage. Goldman Sachs and Merrill Lynch (DW, 2/22) also operate combined marketing forces for derivatives sales, while some banks, such as Dresdner Kleinwort Wasserstein have combined the whole equity and credit groups.
