JP Morgan’s Mark Leung and Jason Sippel have been promoted to global co-head of equities, according to an internal memo seen by The Trade.
Leung and Sippel will now jointly head up JP Morgan’s equities business and also join the corporate and investment banking (CIB) unit.
The promotions follow the departure of its former global head of equities, Tim Throsby’s recent move to Barclays to head up its corporate and international division.
Leung has been with JP Morgan since 1997 when he joined the rates derivatives trading business.
He moved into the Asia Pacific equity derivatives unit 10 years later, and was appointed to lead the entire region’s equities franchise in 2014.
Sippel has been with JP Morgan for 14 years, and currently heads up its prime services business, overseeing prime brokerage, derivatives clearing and collateral management.
“Mark and Jason’s careers at JP Morgan underscore once again the deep bench of talent we have in the CIB,” Daniel Pinto, chief executive of JP Morgan’s CIB stated in the memo.
Throsby is the latest senior figure at JP Morgan to leave the bank for a position at Barclays.
Earlier this year, JP Morgan’s chief administrative officer Paul Compton, jumped ship and joined Barclays as its chief operating officer.
In addition Emily Portney, JP Morgan’s former head of agency clearing and collateral management, joined the British bank as chief financial officer of Barclays Corporate and International.