Jason Sippel, co-head of global markets at JPMorgan Chase, is stepping down from the role and will be leaving the bank after 23 years for a new opportunity. Indian-origin Pranav Thakur, who was named co-head of the business alongside Sippel in 2024, will now serve as the sole head of global markets, according to an internal memo, as reported by Reuters on Friday, January 31.
During his tenure at JPMorgan, Sippel held various roles, including overseeing the expansion of its prime brokerage business and managing global credit trading and public finance.
Earlier this month, JPMorgan reported a record annual profit, driven by strong results in its trading operations.
The bank’s global markets division ended 2024 with a record $30 billion in revenue, fueled by solid performance in both fixed-income and equities, which helped offset a downturn in investment banking.
Thakur, who joined JPMorgan in 2007 and previously led global macro markets, will now lead the global markets business on his own.
Who Is Pranav Thakur?
According to emta.org, Thakur joined JPM in 2007 as head of Fixed Income Trading for North Asia and India.
In 2012, Thakur was appointed head of Global Emerging Markets for Asia, where he oversaw JPMorgan’s fixed income and Debt Capital Markets business across Asia.
Prior to joining JPMorgan, Thakur spent two years running Fixed Income Trading for Southeast Asia at Barclays Capital in Singapore.
Before that, he spent nearly a decade on the Rates Trading desk at HSBC in Mumbai, later moving to Singapore with Barclays in 2005.
He is a graduate of IIM Calcutta.
