14 March 2017
London
Reporter: Drew Nicol
J.P. Morgan reshuffles asset custody team
J.P. Morgan has revamped its asset custody and agent lending desks with new talent.

Patrick Moisy will assume a newly-created role as head of custody and fund services (CFS), liquidity and trading services globally.

He will be responsible for risk activities within CFS, including agent lending, depository receipts, liquidity and collateral management.

Moisy will report to Teresa Heitsenrether, head of custody and fund services.

Heitsenrether said: “Patrick Moisy is uniquely suited for this new role, with more than two decades of trading risk experience across asset classes.”

“He also has spent the past two years optimising capital and funding across investor services and equities globally.”

BNP Paribas’s David Raccat will join Moisy’s team in April as global head of CFS liquidity and foreign exchange (FX).

He will manage CFS client cash positions, with a primary focus on optimising on-balance sheet liquidity, and will be responsible for the CFS FX product.

Raccat moves to J.P. Morgan after 16 years at BNP Paribas, where he is currently ending his tenure as global head of markets services and head of Asia Pacific markets and financing services.

He will be relocating to London from Singapore for his new role. Other members of the CFS team include Stefano Bellani, who will continue as global head of trading services, with responsibility for the bank’s agent lending and depository receipts businesses globally. Michael Albanese remains as global head of collateral management, including securities and derivatives collateral management, while Robert Schwartz will continue as head of cross-line of business for off-balance sheet cash and liquidity markets product.

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