- A senior equities trader has left JPMorgan for Citigroup, at least the second such exec to do so in the last nine months.
- Jitendra Jaisinghani will be joining the bank to run its Delta One flow business in North America, with oversight of ETF market-making, single stocks and custom baskets, according to people familiar with the matter.
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Another senior equities trader at JPMorgan has left for Citigroup.
Jitendra Jaisinghani, a senior trader in JPMorgan’s prime services unit, has left to join Citigroup in the coming weeks, according to people with knowledge of his move.
Jaisinghani will be joining the bank to run its Delta One flow business in North America, with oversight of ETF market-making, single stocks and custom baskets, according to the people. Delta one desks trade derivatives with a linear relationship to their underlying securities. That includes swaps, futures and forwards, among other instruments.
At JPMorgan, Jaisinghani ran a prime-services business called synthetic index trading, according to his LinkedIn profile. He joined JPMorgan in 2009 from Deutsche Bank, where he’d worked for the prior eight years, the profile shows.
He follows Cyril Dosmond, who was hired last year from JPMorgan to co-run Americas prime finance, the people said. Jaisinghani will report to Dosmond in his new role, one of the people said.
Jaisinghani declined to comment, as did spokespeople from Citigroup and JPMorgan.
Citigroup ranks in the second tier of prime services providers, according to 2018 data collected by Coalition, and brought in $3.4 billion in revenue from trading equities, a 19% increase over the prior year. JPMorgan ranked second last year, and brought in $6.9 billion in revenue, a 21% increase.
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