Jason Sippel, co-Head of Global Markets at JPMorgan Chase, is set to leave the US bank after more than 20 years to take on a high-profile role at UK-based macro hedge fund Rokos Capital Management, according to a report by Bloomberg News.
Sippel, who has led JPMorgan’s vast trading operations, will join Rokos as Deputy Chief Investment Officer and Global Head of Markets, reporting directly to founder Chris Rokos. He will also join the firm’s partnership board, subject to regulatory approval.
Sippel’s exit comes after JPMorgan posted record trading revenues of approximately $30bn last year. In an internal memo announcing his departure, JPMorgan’s commercial and investment bank heads, Doug Petno and Troy Rohrbaugh, praised Sippel for leading numerous key initiatives and technology investments.
Rokos Capital, which manages $19bn in assets and employs around 340 people globally, focuses on trading a variety of assets based on key economic indicators. The firm reported a 31% increase in its fund value up until 27 December last year, according to sources.
Richard Tang, the firm’s current Head of Global Markets, is stepping down from the partnership but will remain as a senior adviser.
