JPMorgan Chase & Co has announced its latest senior promotions, this time to its equities trading business, which includes the appointment of both Paul Brannan and Jonathan Cossey as Global Co-Heads of Prime Brokerage, according to a Reuters report.
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The elevation of both Mr. Brannan and Mr. Cossey follows on the heels of another key shakeup in the unit back in September. Two months ago, JPMorgan tapped Jason Sippel and Mark Leung as Global Co-Heads of Equities, replacing Tim Throsby, who parted ways with the lender for Barclays.
In terms of the new promotions, Mr. Brannan previously served as the Head of Prime Brokerage – US, having joined the lender back in 2007. Mr. Cossey manned the division for Europe, the Middle East and Africa (EMEA). The moves reflect the strong performance of JPMorgan’s equities segment, which during Q3 is staunchly higher – this was indicated by its recent Q3 earnings report, which yielded revenues of $1.4 billion, a departure from the industry norm over this same period.