LONDON, August 16 (IFR) – JP Morgan has built a credit product development team, which will be subordinated to Ryan O’Grady, presently co-runner of the global debt syndicate of the bank, in accordance with a memo witnessed by IFR.
The unit is newly created and has a goal to “improve deliverance of a whole range of credit products” to customers and “partner in a more effective way” with coverage of investment banking and sales teams.
His co-runner, Bob LoBue, will stay in mutual charge of this international syndicate team. But due to his new position, O`Grady will currently only be focused on the global syndicate work.
Additionally, the international unit will now also comprise the public finance syndicate business, managed by Robert Servas.
Formerly, it included agencies, sovereigns and supranationals, embraced bonds and financial institutions in EMEA, and also collaterized products and International, North America and Asia-Pacific.
“Working as an international team will help in forwarding and sharing best practices and will help us to improve coordination across products and also our partners in coverage”, stated the memo from Guy America and Matt Cherwin, co-runners of Securitized Products and Public Finance, Credit Trading & Syndicate.
In May, JP Morgan made a promotion of Keith Price and Richard Gustard in its SSA business after retirement of Carl Norrey from his position of a head of European, Middle East and African rates securities. Price manages FIG syndicate in the international team.