As European head of government bonds at JP Morgan, Eloi Duverger sought to expand Morgan’s client franchise by reaching out to clients who the bank did not cover. Rather than get “an army of 100 sales people”, he recalls, he decided to do it the modern way.
What the Frenchman came up with last year was JP Morgan eXpress, an electronic trading platform designed to sound nippier than Deutsche’s existing “Autobahn” facility and to offer a market-making service to new or uncovered clients.
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