J.P. Morgan has appointed Teresa Heitsenrether to head of Custody & Fund Services, according to an internal memo seen by Global Custodian, as the firm conducts a major reshuffle of its Investor Services management team.
Heitsenrether, who was previously the bank’s head of Prime Brokerage for the past three years, will replace Nick Rudenstine, a GC Legend, who has decided to explore new opportunities within the firm, the memo from James Kenny, head of Investor Services, says.
J.P. Morgan has yet to announce Rudenstine new role within the firm.
Heitsenrether spearhead the launch of J.P. Morgan’s European prime brokerage business in 2011, and “defined the strategic vision for Global PB, in part after the Bear Sterns acquisition,” the memo says.
Jason Sippel will now become the new global head of Prime Services, which includes its Prime Brokerage and Equity Financing unit, Agency Clearing and Collateral Management businesses. He was most recently head of Americas Equities Trading, and will now relocate to London. Emily Portney will continue as global head of Agency Clearing and Collateral Management, and will report to Sippel.
In addition, J.P. Morgan has appointed Paul Brannan as its new head of Prime Brokerage for the Americas, Samir Shah to lead a new Investor Services Business Transformation Group, and Patrick Moisy to assume responsibility for its capital and funding activities across Investor Services and Equities globally.
Meanwhile Joe Noto, a managing director for Investor Services, will step down to join one of the firm’s clients.
J.P. Morgan Conducts Major Reshuffle of Investor Services Management
J.P. Morgan has appointed Teresa Heitsenrether to head of Custody & Fund Services, according to an internal memo seen by Global Custodian, as the firm conducts a major reshuffle of its Investor Services management team.