Marathon Hires JPMorgan’s Gold to Boost Emerging-Market Trading

Marathon Asset Management LP, a hedge-fund operator that oversees more than $10.5 billion of assets, hired JPMorgan Chase & Co.’s Jason Gold as it bolsters its emerging-markets trading effort.

Gold, who focused on Latin American sovereign debt as a senior trader at JPMorgan, will join Marathon in September, according to Andrew Rabinowitz, the company’s chief operating officer. Gold will be a senior trader based in New York and report to Gabriel Szpigiel, a partner and senior portfolio manager, Rabinowitz said.

Justin Perras, a spokesman for JPMorgan, declined to comment. Gold couldn’t be reached for comment.

Marathon was founded in 1998 and specializes in global credit, including high-yield, bank, distressed and emerging-market bonds, along with structured finance, debt transactions and real estate. JPMorgan is the second-most-active underwriter of Latin American overseas bonds this year, managing about $7.5 billion in offerings, according to data compiled by Bloomberg.

The volume of dollar-denominated debt from emerging-market countries such as Russia, Mexico and Brazil has swelled by 69 percent since 2008 to $444.2 billion outstanding, according to the Bank of America Merrill Lynch U.S. Emerging Markets External Debt Sovereign Index.

The index has declined 6.4 percent this year after returning 77 percent in the four years after 2008, as central banks globally suppressed borrowing costs through bond purchases to ignite economic growth.

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