JP Morgan 'blinks first' as dramatic staff cuts herald a new focus on vanilla products
JP Morgan has wrapped its retail structured products business (the so-called structured investments distributor marketing (SIDM)) into its institutional sales and marketing distribution arm, culling around half of its London-based staff, a change that will see Beat von Gunten, Oliver Jerome and Alan Kruger move away from the structured products team.
The bank will continue to provide structured products to retail, but in a more vanilla style that it says will match the desires of investors
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