JP Morgan to shrink equity derivatives teams
EUROPE - JP Morgan is planning job cuts on its derivatives desk by combining its structured investments distributor (SIDM) and financial institutions distributor (FIDM) teams in derivatives marketing in London, IPE has learnt.
Members of the two teams at JP Morgan's securities operation in London are being told today if their jobs will be axed.
JP Morgan has declined to comment on potential job cuts anywhere in its business.
The group's website shows product offerings include volatility management products, dynamic structured products, alternative investment underlyings, leveraged finance, prime brokerage and futures & options.
Moreover, JP Morgan recently wrote on its website: "Structured Investments Distributor Marketing (SIDM) has been steadily expanding its product delivery and trading platform in Asia since last year as part of efforts to deepen its reach in the region."
JP Morgan was reported last month to be planning to cut up to 3,000 employees or 10% of its global workforce redundant, including hundreds in its London operation, though the company has yet to make any officials announcement regarding down-sizing.
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