JPMorgan has lost another senior macro trading executive in Asia, with managing director Youngmin Cho departing for hedge fund Schonfeld Strategic Advisors less than a year after joining the bank from Morgan Stanley, according to a report by eFinancial Careers.

Cho, who was appointed JPMorgan’s head of Singapore non-deliverable forward (NDF) trading in July 2025, is understood to have resigned this week to take up a role at Schonfeld, which is expanding its macro trading presence in Singapore.

The move highlights continued turnover in Asia’s macro trading talent pool, where hedge funds have been aggressively recruiting senior bankers with expertise in foreign exchange and rates markets.

Cho is the second JPMorgan macro managing director to join Schonfeld in recent weeks. Mintaek Kim, a long-serving JPMorgan executive who had been with the bank since 2009 and a managing director since 2019, is also set to join the hedge fund.

Kim will take up a co-head role in discretionary macro and fixed income trading in Asia at Schonfeld, working alongside veteran portfolio manager Yau Ng, previously of Point72 Asset Management.

The hires form part of a broader expansion of Schonfeld’s macro platform in the region as hedge funds compete to build trading teams in Singapore, which has become a key hub for discretionary macro strategies.