Former JP Morgan Chase derivatives strategist joins PNC

Pittsburgh-based PNC Financial Services has hired JP Morgan Chase’s former head of derivatives strategy, Gagan Singh, as managing director of asset liability management. In addition, Singh becomes chief investment officer of the company’s banking arm, PNC Bank.

Singh takes on responsibility for the management of PNC’s portfolio and proprietary trading activities, reporting to William Parsley, treasurer and chief investment officer for PNC Financial Services.

PNC noted Singh’s experience in interest rate derivatives and mortgage-backed securities, as well as his quantitative and analytical skills, as reasons for his appointment.

“Gagan brings an in-depth knowledge and understanding of relative-value trading across a variety of fixed-income asset classes, which is particularly relevant in today’s market,” said Parsley.