J.P. Morgan poaches head of credit structuring from BNP

Typically, banks rarely make big-name hires near the end of the year as bonus season looms. That wasn’t the case in 2018; banks continued poaching talent well into the winter months in certain business areas with the job market tightening. The latest example is Denis Gardrat, who J.P. Morgan just hired as its new head of credit structuring. Gardrat started in London as a managing director in December.

The move to J.P. Morgan follows a near 15-year stint at BNP Paribas, where Gardrat eventually rose to the head of credit structuring in Europe. This isn’t the first time Gardrat’s name has been mentioned in the news. He’s been quoted as an expert on investment trends on several occasions, including by Bloomberg and the FT.

Based on recent bonus predictions, Gardrat may be making a move at just the right time. Credit is expected to be one of the sour spots for 2018 bonuses at BNP, according to banking intelligence firm Tricumen. J.P. Morgan declined to comment on the hiring of Gardrat.

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