JP Morgan has laid out a new markets execution team, as it looks to refocus its trading strategy towards electronic execution.
Following the hire of David Hudson as head of markets execution earlier this year, it has named Richard James, its current head of currencies and EM execution services, and Peter Ward, head of futures and options executions services, as co-heads for the division’s macro products.
Both James and Ward will also lead the bank’s listed derivatives execution unit, as well as Neovest, the bank’s direct market access (DMA) provider.
JP Morgan has also hired Debra Herschmann as head of its CIB user experience from Goldman Sachs, according to an internal memo.
The bank plans to announce a new appointment for its equity derivatives business in due course.
The instalment of the new electronic trading team follows the departures of its most senior electronic traders, Brian Pomraning and Frank Triose, who both joined ITG.
In September it rearranged its global equities and prime brokerage team with the appointment of Mark Leung and Jason Sippel to jointly lead the business.