The bank has appointed Tyler Dickson, until now the head of equity, to run this new division, called capital markets origination. The combination belatedly follows the lead of the US brokers and abolishes the credit business line.
Dickson reports to Jamie Forese, who was made head of capital markets following the departure of Tom Maheras. This carves out all debt origination from fixed income, currencies and commodities. FICC was only created a year ago and was run by Randy Barker, Geoff Coley and Paco Ybarra, but now this is purely a products group run by Ybarra alone.
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