Frost’s farewell

Tim Frost, one of Europe’s most vocal proponents of the credit derivatives market, is to retire from the industry. David Watts looks back at his career in and out of JPMorgan

In November last year, Tim Frost, JPMorgan’s former head of European credit sales, trading and research, had lunch with Douglas Hurd, UK foreign secretary under John Major’s Conservative government until 1995.

At that lunch, at the London School of Economics (LSE), Frost’s former university, Hurd told Frost that the best decision he had ever made was to leave government when he was on top rather than waiting to be forced out. Students of political history may disagree with Hurd’s assessment of