JPMorgan traders said cut, colleagues said to defect to rival

Cutting heads and defections.

JPMorgan cut several emerging-market credit traders, including global head Robert Milam, as volatility in the asset class bled into this year, according to people with knowledge of the moves.

Bloomberg News reports that Milam, an 18-year veteran of JPMorgan, ran the emerging-market corporate and sovereign credit group out of New York since 2011 and previously was co-head of North America credit trading.

The 39-year-old managing director left last month after two senior London-based emerging-markets credit traders, Elie Pano and Dan Steeds, went in January, the people said, asking not to be identified discussing personnel.

The reductions are being compounded by defections. A group of emerging-market bond traders and salesmen left the bank for Nomura this month, people with knowledge of that move said this week. 

To access the complete Bloomberg News article hit the link below:

JPMorgan Cuts Credit Traders Amid Emerging-Market Swings

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