Jeremy Hood, a v.p. in alternative assets at J.P. Morgan Securities, was let go two weeks ago, according to one of his colleagues. He reported to Romita Shetty, managing director and head of structured products. Hood reached at his home declined to comment, citing company policy. Shetty says Hood will not be replaced.
Hood headed a three-person structuring unit, specializing in the packaging and distribution of "exotic" structured products such as hedge fund-of-funds collateralized debt obligations and private equity backed CDOs. Michael Trenk and Michael Gordon, both v.p.'s who reported to him, will now directly report to Shetty.