The global equities business at JP Morgan has bolstered its senior management team with the appointment of a new head of global volatility, according to an internal memo seen by The TRADE.
Rachid Alauoi will take on the role overseeing the equities trading businesses across flow, exotics and non-linear corporate derivatives segments. A spokesperson at JP Morgan confirmed the contents of the memo.
Alauoi has been with JP Morgan for the past 14 years in various roles across the derivatives trading team, most recently as head of EMEA equities exotics and index flow trading.
He replaces Fater Belbachir who left the US investment bank a few weeks ago. Belbachir joined JP Morgan in 2007 from Credit Suisse where he was formerly an equities derivatives proprietary trader.
The memo, authored by JP Morgan’s head of global equities Jason Sippel, also confirmed that Rui Fernandes will continue as head of global equity derivatives structuring, after recently assuming the role.
Fernandes is responsible for leading product delivery across JP Morgan’s equity derivatives products. He has been within the global equities team at JP Morgan for the past 12 years and was instrumental in the growth of the bank’s structured volatility franchise.
Both Fernandes and Alauoi will report to Sippel, who stated that JP Morgan continues to focus on delivering best-in-class solutions and execution across its derivatives franchise to clients globally.