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Jason Sippel, who collectively led JPMorgan’s sprawling trading enterprise, will be part of the UK-headquartered macro hedge fund as its deputy chief funding officer and international head of markets, reporting to founder Chris Rokos. He’ll be part of the partnership board, topic to regulatory approval, the hedge fund mentioned.
Hedge funds resembling Millennium Administration and trading corporations resembling Citadel Securities have succeeded in luring high expertise from bulge bracket banks lately.
One in all David Solomon’s senior lieutenants Jim Esposito left Goldman Sachs final 12 months for a task at billionaire Ken Griffin’s Citadel Securities, whereas Goldman’s treasurer went to Izzy Englander’s Millennium.
Chris Rokos has constructed one of many world’s best-known macro hedge funds in Rokos Capital, the place he’s the agency’s key dealer in addition to serving as its chief funding officer.
Earlier than beginning RCM, he co-founded rival macro hedge fund Brevan Howard alongside Alan Howard and different companions.
Sippel labored at JPMorgan for 23 years in Tokyo, Hong Kong, New York and London, and was key in build up the financial institution’s presence in equities trading and prime brokerage.
He was solely promoted to the position of co-head of the financial institution’s fastened earnings and equities trading enterprise 12 months in the past, alongside Pranav Thakur, as a part of a administration reshuffle. Thakur will develop into sole head of the enterprise following Sippel’s departure.
His leaving comes after JPMorgan generated document revenues of about $30bn from trading final 12 months.
In an inner notice saying Sippel’s exit, the heads of JPMorgan’s business and funding financial institution, Doug Petno and Troy Rohrbaugh, credited him with “spearhead[ing] lots of our key initiatives and expertise investments”.
Rokos Capital manages $19bn and employs roughly 340 individuals world wide, specialising in trading a wide range of belongings based mostly on key financial indicators.
Its fund was up about 31 per cent to December 27 final 12 months, mentioned individuals conversant in the matter. Richard Tang, the agency’s head of worldwide markets, is leaving the partnership, however will proceed to function a senior adviser.
Chris Rokos mentioned of Sippel: “I can not consider a extra skilled, insightful and provoking chief to be becoming a member of us and I look ahead to his contribution to the agency.”
The information of Sippel’s transfer to Rokos was first reported by Bloomberg.
