JP Morgan CDO marketer departs

Paul Horvath, co-head of European collateralised debt obligation marketing (CDO) at JP Morgan, has left the firm. The remaining CDO marketing co-head, Olrich Masek, will assume Horvath’s responsibilities. Horvath is thought to be joining Merrill Lynch in a similar role. Calls to Merrill Lynch’s press office were not returned.

Horvath is the latest departure from JP Morgan’s credit derivatives team. Among many others, Andrew Palmer, global head of structured credit marketing and distribution, left early this year. Market observers say cost cutting may be the cause of many of these recent departures