JPM creates markets sustainability centre under hire from BNP Paribas
ESG talent war arrives in markets businesses
JP Morgan has established a global markets sustainability centre within its structuring and solutions division, and has appointed a banker from BNP Paribas to lead the team.
Based in Paris, the head of the new unit, Neven Graillat, will work with JP Morgan's sales and marketing, trading, research and banking staff on products with an environmenal, social and governance angle.
He will report to Rui Fernandes and Masi Yamada, co-heads of global investor structuring, according to a memo sent to JP Morgan staff on Wednesday by Ben Keeping, head of sales and marketing in the UK, Ireland and CEEMEA and head of structuring and structured investments distributor marketing.
At BNP Paribas, Graillat had been chief sustainable product officer in the global markets business. He had been with the French firm for almost 16 years, mostly working in equity derivatives structuring. In recent years, he had been concentrating on innovation in the area of sustainable and responsible investment products.
His departure from BNP Paribas comes just as the bank has unveiled its new low-carbon transition group, a team of 250 individuals spread across advisory, capital markets and industry coverage who will provide clients with a wide range of sustainability related services. It will be led by Séverine Mateo, until now the bank's head of energy, natural resources and infrastructure.
BNP Paribas is aiming to hire 100 people into the group, so the exact make-up of the team is still to be determined. However, it will not include Anjuli Pandit, the firm's former primary markets sustainability manager, who recently took a new job as head of sustainable bond in EMEA and the Americas at HSBC.