JP Morgan boosts electronic trading unit with ex-Deutsche tech heads

The appointments comes months after the formation of a new global trading team with a key focus on electronic trading. 

JP Morgan has poached two of Deutsche Bank’s senior trading technologists, as it looks to further strengthen its electronic trading unit.

The US bank has hired David Winig as global head of market data services and electronic trading infrastructure, and Leon Sirota within its fixed income, currencies and commodities (FICC) technology team in New York.

Sirota was previously Deutsche Bank’s global head of algorithmic trading technology for over six years, before departing the bank in January.

Meanwhile, Winig re-joins JP Morgan after serving almost eight years at Deutsche Bank, where he previously served as the CIO of the corporate banking and securities (CB&S) unit’s core trading technology.

The appointments come months after David Hudson, JP Morgan’s head of markets execution, announced a new global trading team with a key focus on electronic trading.

Winig previously served as a managing principal director for Bear Stearns, before it became part of JP Morgan at the height of the financial crisis.

Sirota also served as global head of algorithmic trading development at ITG for two years. 

The loss of its two senior technologists is the latest blow for Deutsche Bank’s US trading team, after its co-head of electronic trading for the Americas, John Cogman, departed last May to join high frequency trading firm Tower Research Capital.