JP Morgan has appointed a new head of global equities amid wider changes to senior leadership in its markets division.
According to an internal memo published on Thursday, Rachid Alaoui has been appointed head of global equities at JP Morgan.
Alaoui was most recently head of global equity derivatives trading at JP Morgan, covering flow derivatives, exotics, corporate derivatives and convertible bond trading franchises.
He joined JP Morgan in 2005 as a trader on the equity exotics desk in London. He has since held multiple roles managing equity exotics and flow trading desks in London and head of global volatility trading in equities.
The news follows JP Morgan’s earlier appointment of two new co-heads of its markets division – Jason Sippel and Pranav Thakur – in January as part of wider changes to leadership in the division.
Sippel has been with JP Morgan since 2002. Previously in his career he also served at Overstock.com, Credit Suisse, and Merrill Lynch. He began his career as an analyst at Lehman Brothers in 1993.
Thakur was most recently appointed head of global macro markets and emerging markets credit in 2022 after also previously leading currencies, commodities and emerging markets trading.
The moves come as part of a string of newly expanded roles and appointments in markets at JP Morgan.
Among the changes is the expansion of Sanjay Jhamna’s role to head of global credit trading, public finance and credit portfolio lending. His new responsibilities include leadership of the firm’s public finance and credit portfolio lending businesses.
Rui Fernandes – formerly global head of equities and credit structuring – has also been appointed head of markets trading structuring.