Market sources tell Profit
& Loss that James Taylor, executive director at JP Morgan, has left the
Taylor was most recently heading JPM’s macro fixed income market structure
team, having shifted from his role as head of international rates execution services at
the bank. Taylor joined JP Morgan in 2009 as head of e-FICC sales for Europe,
having moved from a similar role at Deutsche Bank. Prior to Deutsche, Taylor
was on the e-FX sales team at Barclays.
Sources say Taylor is the latest big name to join Bank of
New York Mellon following a string of hires at the bank as it seeks to boost
its FX business. Taylor is apparently becoming head of sales for BNY Mellon’s
client execution services business, be based in London and will report to
Oliver Martines, global head of FX sales at the bank.
In recent months BNY Mellon has made a series of senor hires
as it revamps its business, a process started by Michelle Neal, head of Markets
at the bank when she
joined in late 2015. In mid-2016 the bank hired Adam Vos from Deutsche Bank
as global head of FX and in
January it named Jason Vitale as COO of the FX business and Jeff Leal as
global head of e-FX.
Sources say that as part of the changes there are departures
from the FX teams at BNY Mellon, the latest being Martin Crawley from head of
the regional e-FX sales team in London.