JPMorgan is reorganizing its structured credit business, following the departures of Paul Horvath, Andy Brindle and Andy Palmer.
JPMorgan has named Brian Zeitlin and Oldrich Masek as co-heads of global structured credit. The move follows the departures of Paul Horvath (DW, 2/25), previously co-head of structured credit with Masek, and senior trading and marketing heads Andy Brindle and Andy Palmer (DW, 2/4). According to an internal memo obtained by DW, Masek and Zeitlin will report to Tony Best, head of European investor client management in London, and Carlos Hernandez, head of North American origination and distribution in New York. The memo adds Bertrand des Pallieres, global head of derivatives marketing, is taking a leave of absence.
The structured credit business at JPMorgan includes origination, structuring and product management of cash and synthetic CDOs and other structures. Zeitlin and Masek also take on responsibility for the quant advisory business and, in the U.S., credit hybrids structuring. In Asia, Mahesh Bulchandani and Toru Sano will continue to head structured credit.