JP Morgan has hired Goldman Sachs’ head of clearing operations as part of a wider move to boost its European clearing division.
Anthony Fraser has joined JP Morgan as regional head of derivatives clearing operations and global head of derivatives clearing change, The TRADE Derivatives has learned.
Fraser, a former company commander in the British Army’s ‘Black Watch’, has been a part of Goldman Sachs’ derivatives unit for over eight years. He most recently served as global head of clearing operations and client experience, a unit focused on Goldman Sach’s client clearing unit.
A spokesperson for Goldman Sachs declined to comment.
The appointment of Fraser is the latest development from JP Morgan as it looks to bolster its European clearing offering in the wake of mandatory clearing for OTC derivatives.
In February it moved its global clearing role from New York to London and appointed Nick Rustad to lead the business.