JP Morgan Promotes Marchand in Prime Services Role

Stephane Marchand and Family

Altitude Entertainment Films in Hollywood Ca. July 5, 2013

JP Morgan has promoted Stephane Marchand to the role of managing director and head of prime and hedge funds services sales in Europe, the Middle East and Africa.He is taking over from Brian Bisesi, who is moving to New York to work in a similar capacity. In his new role Marchand, now an executive director, will report to Francis Jackson, who leads the EMEA investor services business at JP Morgan. It is unclear why Bisesi, a dual US-UK citizen, is returning to New York after a lengthy stint in London. Based in London, Marchand will be charged with looking after the bank's hedge fund clients with traditional prime broker services as well as its investor services such as securities lending, custody, clearing and fund administration. Marchand joined JP Morgan along with Bisesi in 2010 to grow the bank's European prime brokerage operation, two years after the bank became a serious contender in the US prime services market when it acquired powerhouse Bear Stearns. In 2011, JP Morgan announced it had launched a "full prime brokerage" offering for clients in Europe. Bisesi had previously worked at Barclays Capital where he was head of sales for prime services in EMEA, while Marchand served in Nomura's prime services business in London.