JPMorgan Chase & Co. (JPM) named Claudia Jury and Pranav Thakur as global co-heads of foreign exchange and emerging markets, part of a wider reshuffle prompted by the surprise departure of Mike Cavanagh two months ago.
Kanav Bhagat, who was head of U.S. rates trading, will become global head of rates, according to a memo to employees from James Kenny and Troy Rohrbaugh, co-heads of global rates, foreign exchange, commodities and emerging markets. Bhagat is filling a role that Rohrbaugh had starting in 2012. A JPMorgan spokesman in London confirmed the contents of the document.
“This team will focus on monetizing the opportunities made available by changes in market structure and the competitive landscape while also continuing to aggressively grow our client franchise,” the co-heads said in the memo.
Daniel Pinto, head of the corporate and investment bank for New York-based JPMorgan, named Kenny and Rohrbaugh co-heads of global rates, foreign exchange, commodities and emerging markets last month. Pinto, 51, is overhauling reporting lines across the division after becoming its sole chief following Cavanagh’s move to private-equity firm Carlyle Group LP.
Thomas Pluta, global head of foreign-exchange forwards trading, will have added responsibility as global head of short-term interest-rate trading, according to the memo. Pitts Robinson will be global head of foreign-exchange services to deliver FX products to clients, and Eddie Wen was made global head of electronic trading for the four areas overseen by Kenny and Rohrbaugh.
Jury previously oversaw global foreign-exchange spot trading and Thakur ran rates and currencies in Asia, excluding Japan. Stephen Jefferies was named head of emerging markets and Europe, Middle East and Africa foreign exchange, reporting to Jury and Thakur, according to the memo.
Reporting to Bhagat will be Charles Bristow, who was named head of derivatives and liquid government bonds in Europe, the Middle East and Africa, and Carl Norrey, who will manage sovereign credit default swap trading and non-liquid European government bond trading.
JPMorgan, the biggest U.S. bank by assets, also named Jeff Herbert-Smith as head of Australia markets, expanding his role managing fixed-income trading to include equities.
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