BlueMountain Hires Top JPMorgan Executive

Jan 8 2013 | 1:39pm ET

Having harpooned JPMorgan Chase's "London whale" last year, BlueMountain Capital Management has opened this one by netting one of the bank's top executives.

James Staley was named a managing partner at BlueMountain, which has $12 billion in assets under management. BlueMountain was founded by former JPMorgan banker Andrew Feldstein in 2003.

Staley, who most recently was head of corporate and investment banking at JPMorgan, will serve on BlueMountain's management, risk and investment committees, and will take an ownership stake in the hedge fund.

"I'm very excited to be joining BlueMountain at a time when sea changes in the financial industry, combined with the firm's unique strengths, open up enormous possibilities to deliver value to clients," Staley said.

During his 34 years at JPMorgan, Staley, known as Jes, served as CEO of investment banking and as head of its asset-management business. In the latter role, which he held for eight years, Staley pushed for the acquisition of hedge fund Highbridge Capital Management, making JPMorgan the largest hedge fund manager in the world for several years; it remains among the biggest.

"Jes has been an extraordinary leader and a valued partner for many of us at JPMorgan over the years," Dimon said.

"While Jes is leaving JPMorgan Chase, he is joining a respected private investment firm, BlueMountain Capital," Dimon added. "BlueMountain is an important client of ours, and we look forward to working with Jes in the future."

Staley was at the investment bank's helm when trader Bruno Iksil's disastrous derivatives trades blew up. The bank lost billions—but BlueMountain, which took the other side of the credit-default swap index trades, made hundreds of millions. JPMorgan later turned to the hedge fund to help it unwind the trades.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.