EUROPE – J P Morgan says it has hired John Minderides from ITG to be head of its transition management business in Europe, the Middle East and Africa.
“Minderides will be responsible for building on the transition management product in line with an increasing demand from plan sponsors for support in restructuring their portfolios,” the bank said.
He will be based in London and report to Bharat Patel, head of structured portfolio trading. He was previously managing director at ITG Europe and was at Barclays Global Investors for seven years.
ITG said it is looking for Minderides’ replacement. It added: "ITG Europe would like to thank John for his contribution towards making our quantitative research products, such as pre- and post-trade tools ACE and TCA, such a success."
"We are very pleased to be joined by someone with John's breadth of experience," Patel said. "More and more pension funds are changing their investment style and making structural changes to the way they invest in equities and bonds, driving the need for transition management expertise.”
"The opportunity to work with so many leaders across the various financial disciplines and skills that constitute a successful transition puts J P Morgan in the perfect position to be a top transition provider," Minderides said.
ITG Europe’s revenues rose 33% to 26 million dollars in 2003, according to parent Investment Technology Group.
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