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Derivatives

JPMorgan Snags Commerzbank Credit Trader

JPMorgan has hired Simon Prest, cash and credit derivatives trader at Commerzbank Securities in London, as an industrial cash bond trader. Guy America, European head of corporate credit trading at JPMorgan in London, said Prest would initially be trading cash bonds, but may eventually trade credit derivatives as well.

Mike Staveley, global head of credit trading at Commerzbank in London, did not return calls. Neil Brazil, spokesman at Commerzbank in London, declined comment.

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