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Merrill Nabs JP Morgan Team

Merrill Lynch has tapped JP Morgan for a team of options traders in London. The three, Nigel Khakoo, Glenn Phillips and Ian Edwards, report to Marcus Browning, head of global trading and EMEA FX, who refers to them as a “highly respected team” and says that they are part of the bank’s efforts to broaden its trading capabilities.

However, the trio fill a hole left by the departure of three options traders who went to Lehman Brothers in March Asif Ghiawadwala, Giles Coppell and Andy Price.

Khakoo joins Merrill in June, and has worked at JP Morgan since 1992, specialising in FX options since 1994. He was most recently involved with the setting up and developing the firm’s specialised risk trading business, focusing on trading multi-asset products, illiquid cross pairs and exotic FX options. This was the group that Browning was heading when he left JP Morgan in mid-2002.

Phillips and Edwards join the bank in May, and have been with JP Morgan as options traders for nine years, with experience including exotic options and currency hybrids.

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