Greg Coules has joined J.P. Morgan Securities in a newly created position as a v.p. and distressed loan analyst, according to sell-side officials with knowledge of the hire. Coules was one of a number of high-yield professionals released from Morgan Stanley in November. He had spent three years at Morgan Stanley covering the broadcasting sector. Coules declined comment when reached at J.P. Morgan. He will report to Eric Rosen, managing director and head of the loan-trading group. Rosen also declined comment.