JPMorgan's top non-linear rates trader has left the bank
JPMorgan has got a hole at the top of its non-linear rates team. Badr Mernissi, its global head of non-linear rates trading, based in London, has gone.
JPMorgan declined to comment on Mernissi's whereabouts. Mernissi ignored our invitations to disclose his intentions.
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He was at JPMorgan for a long time. The FCA Register suggests he joined the bank in 2004, if not earlier. Mernissi is French and a graduate of École Polytechnique, where all the best French people appear to have studied.
Who will replace him? This is not clear. Not Fiona Portington, another senior rates trader at JPMorgan, who left to become head of non-linear rates trading at NatWest in March 2026.
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