J.P. Morgan MDs keep quitting for this fintech firm

ITG, a financial technology firm that provides data analytics and trading algorithms to broker-dealers and asset managers, has made three new hires from J.P. Morgan, and each is based in a different continent.

In April, David Fellah joined ITG’s London office as the global head of quantitative execution analytics. Most recently, he had worked as a quantitative researcher at J.P. Morgan for eight years. Fellah previously worked at ITG from 1999 to 2004 as a trading strategist.

In March, ITG brought on ex-J.P. Morgan executive director Vinayak Patade as a managing director and the head of execution and workflow technology application development based in New York. Prior to working for close to five years at J.P. Morgan, he was a director at Barclays and UBS and a vice president at Lehman Brothers.

That same month, ITG hired Fabien Melero, who worked as a VP of electronic trading in J.P. Morgan’s London office for six and a half years before being promoted and transferred to Hong Kong. Still based in the latter, Melero is now the head of product management for Asia-Pacific at ITG.

Frank Troise, the CEO of ITG, announced the three recent additions on today’s 1Q18 earnings call. A firm spokesperson declined to comment further.

Those are not the only executives that ITG has lured away from J.P. Morgan. For example, in June of last year, the firm brought on data scientist, engineer and Java developer Mitul Raul, the former head of cross-asset global analytics at J.P. Morgan, as an MD and the global head of analytics development and market data.

That said, ITG has been restructuring and subtracting more headcount than it has been adding. Among the senior executives who were laid off last month was Rajendra Jain, a managing director of electronic trading who had been with the firm for almost 15 years.

Deepak Begari, a former front-office algo trading role and software engineer promoted to director of product management at ITG before leaving the firm in 2012, recently joined algorithmic trading fintech firm Quantitative Brokers as the CTO.

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