JP Morgan reorganises credit derivatives business

JP Morgan has reorganised its structured credit business following a number of high level departures.

According to an internal memo obtained by RiskNews, Brian Zeitlin and Oldrich Masek will run the global structured credit business and report to Tony Best. They will report locally to Carlos Hernandez and Best, respectively. Best is the London-based head of European investor client management and Hernandez is the New York-based head of North American origination and distribution.

Masek and Zeitlin will head up global origination, structuring and product management of cash and synthetic CDOs, structured alternative investments, the quantitative advisory business and in the Americas, credit hybrids structuring.

Mahesh Bulchandi and Toru Sano will continue to head structured credit in Asia. Best and Bobby Magee, head of global hybrids and EMEA exotics, will oversee coordination between risk management and global structured credit origination and distribution.

The memo confirmed that Bertrand des Pallieres, global head of derivatives marketing has taken a leave of absence and that Andy Brindle, a managing director of credit derivatives based in New York, has left the firm.