One of the longest serving executives at JPMorgan’s Emerging Markets trading desk in London, James Marshall has left the company, sources with knowledge of the matter confirmed to Finance Magnates.
Mr Marshall has been with JPMorgan for almost a dozen years since joining in March 2005. While holding the Executive Director position on the Emerging Markets trading desk in London, he was first working with Asian and Middle Eastern currencies. Later he focused on sub-Saharan Africa FX and fixed income markets.
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The company did not respond to a request for a comment.
Trading African foreign exchange presents a lot of challenges – from poor liquidity to political unpredictability, the most underdeveloped continent in the world is setting for a brighter future. Throughout the past years, the controversial policies of the President of South Africa Jacob Zuma and the impact of falling oil prices on the Nigerian naira have caused a lot of FX volatility in the region.
In recent months the substantial economic slowdown engulfing the region has impacted investment and consequently trading activity. Governments in sub-Saharan Africa will need to reinvigorate their economies at a very critical time – the continent is suffering from chronic US dollar shortages at a time when the US Federal Reserve is preparing to increase interest rates.