JPMorgan has re-hired UBS’s rates and credit chief
Daniel Theurkauf, the head of rates and credit for Germany and Austria at UBS, has left the Swiss bank to rejoin JPMorgan after three years away.
Theurkauf held various senior positions during his ten years at JPMorgan, latterly head of cross-asset derivatives marketing and solutions for Germany and Austria based out of London, before his exit in November 2011.
He joined UBS in February the following year, as a managing director and head of rates and credit for Germany and Austria, but left the position in December 2013. Now, according to filings on the Financial Conduct Authority register, he has joined JPMorgan again in what is believed to be a similar position to the one he held at UBS.
While UBS said that it was pulling back from certain areas of its fixed income business during a wide-ranging strategy review in early 2013, flow rates and credit remained an area of focus for the bank.
Theurkauf was also one of the more senior members of UBS’s German team, occupying a position in the investment bank’s executive board as part of his role.
JPMorgan didn’t immediately respond to requests for comment.
As we’ve mentioned previously, senior investment bankers are increasingly extolling the virtues of making lateral moves throughout your career in order to make the move up the ranks – linear careers are becoming a thing of the past, they insist.
Theurkauf is a good example of this. During his time at JPMorgan he held various positions including co-head of structured credit marketing for Northern Europe, head of credit derivatives and institutional equity derivatives marketing for Germany and Austria, head of derivatives marketing for Switzerland as well as his latest position.