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JPMorgan’s Lebedin to leave prime brokerage
28 May 2012
Lou Lebedin, global head of prime brokerage at JPMorgan, will be replaced by the division’s Emea head in the summer
JPMorgan’s Lou Lebedin is stepping down from his role as global head of prime brokerage after just two months in the position, according to a source.
He will be replaced later this summer by Teresa Heitsenrether who is head of JPMorgan’s Emea prime brokerage business. She will move from London to New York to take up the role.
The source said the move is part of a succession plan that has been on the cards for some time. However, Lebedin was only named sole head of global prime brokerage in March when his co-head Andrea Angelone left the role.
Lebedin is likely to stay at JPMorgan but will move outside of the prime brokerage business. It is not yet known who will replace Heitsenrether, but it is expected that the bank will look to hire internally first.
Lebedin worked for Bear Stearns before it was acquired by JPMorgan in 2008 when he was made head of JPMorgan’s equity prime brokerage team.
Heitsenrether worked for JPMorgan before the acquisition and was named co-head of fixed income prime brokerage in 2008.