JP Morgan expands China equity derivative team

JP Morgan Chase & Co said it has appointed three new vice presidents who will focus on the mainland Chinese client for equity derivatives operations in China, aiming to tap the country's surging equity derivative market.

Jackie Lin, hired from ABN Amro , will be responsible for developing JP Morgan Equity Derivatives Group's (EDG) institutional marketing business for China, JP Morgan said in a statement released on Thursday.

Brian Bai joins as JP Morgan's EDG institutional marketing team, leaving Standard Chartered Bank in Shanghai, where he focused on the sales of structured derivatives products.

Yvonne Shen joins the EDG Investors Sales Team in Hong Kong to drive distribution of derivative products that allow local investors to access foreign markets investment, the statement said. Shen was previously head of bond brokerage and product design for domestic institutions at the Bank of Shanghai.

Many foreign investment banks have been granted quotas under China's Qualified Domestic Institutional Investor (QDII) program, which seeks to improve China's balance of international payments by giving mainland investors more opportunities to invest abroad.

(US$1=HK$7.8)