UPDATE: JP Morgan merges debt syndicate operations

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Alex Chambers, Anil Mayre

(Updates with details, background)

The memo – authored by Guy America, Matt Cherwin, James Kenny and Troy Rohrbaugh – states that the rationale for the integration is a desire for closer coordination of the bank’s syndicate activities.

Global syndicate incorporates a newly-formed team combining the supranational, sovereign, and agency (SSA) business which has been merged with covered bonds and financial institutions in Europe, Middle East and Africa. This new regional set-up will be managed by Keith Price, formerly head of SSA syndicate.

Securitised products group (SPG) syndicate run by Andy Cherna is also part of global syndicate, as is Asia Pacific - which now includes Australian primary, alongside the Hong Kong and Tokyo fixed income operations, led by Simon Crisp.

In the message, JP Morgan states that combining the platforms will help it deliver a better service to issuer and investor clients as well as coordinate better with partners in coverage, origination and markets.

Price, Cherna and Crisp all report into LoBue and O’Grady who respectively had leadership of debt syndicate in North America and international regions. Both report into Guy America and Matt Cherwin - heads of global credit (including emerging markets credit), securitized products and public finance.

James Kenny and Troy Rohrbaugh are co-heads of global rates, foreign exchange, commodities and emerging markets.

JP Morgan - China