In a major reshuffle of its prime brokerage services, JPMorgan has named Teresa Heitsenrether to the role of global head of custody and fund services.
Before the move announced on Friday, Heitsenrether served as global head of prime brokerage for the past three years. According to an internal memo sent on Friday by Head of Investor Services James Kenny, she will take on a “core strategic priority for the firm.”
“Teresa has helped establish J.P. Morgan as an industry leader, overseeing significant growth while adapting to regulatory change,” wrote Kenny in the memo.
As part of the reshuffle, Heitsenrether replaces Nick Rudenstine, who is moving to an unspecified role within the investment bank. Heitsenrether will be replaced by Jason Sippel, previously head of equities trading for the Americas. Sippel’s replacement has not yet been named.
The JPMorgan memo added that Paul Brannan would be named head of prime brokerage for the Americas, and will report to Sippel.
