JPMorgan Forms New Quant Group to Fend Off Market-Maker Rivals

JPMorgan Chase & Co. has formed a new quantitative trading and research group in a bid to speed up its efforts in electronic trading and fend off non-bank rivals.

Chi Nzelu, who was previously global head of fixed income, currency and commodities electronic trading, will oversee the effort, according to an internal memo Thursday. Olivier Robert, who had been head of quantitative research, will help with the transition before “exploring other opportunities.”