It's a busy time in equities. Credit Suisse has been hiring and cutting. So has Barclays. Now it transpires that J.P. Morgan has been making some high level changes as well. Laurent Marquis, head of EMEA equities trading, is expected to leave the bank soon.
Marquis hasn't technically held the role since November last year after J.P. Morgan reorganized its equities business following the departure of Tim Throsby for Barclays. Following that change, Fater Belbachir became head of volatility trading across flow, exotics, corporates and derivative structuring. As a result, Marquis' former role technically no longer exists.
It's possible that Marquis will remain employed at J.P. Morgan, possibly in the U.S. bank's asset management arm. Alternatively, he may join Throsby at Barclays. Headhunters said he's also looking at other alternatives on the buy-side.
The shake-up follows a big emphasis on equities trading at J.P. Morgan in recent years. Compared to 2015, the bank's equity business performed best of all last year among the banks that have reported so far. This raises the question why J.P. Morgan thought it necessary to restructure its equities operation, but maybe it had no choice after Throsby, the former head of equities, quit to join Jes Staley.
J.P. Morgan declined to comment.