JPMorgan Chase & Co. has announced that Jason Sippel, co-head of global markets, is departing to join Rokos Capital Management, where he will assume the role of deputy chief investment officer and global head of markets. Pranav Thakur will take over as the sole head of JPMorgan’s trading desk. Sippel, who has been with JPMorgan for over 20 years and played a key role in developing the firm’s equities business, will transition to Rokos, which manages $19 billion in assets and recently reported a remarkable 31% return for 2024. Rich Tang, who has been with Rokos since 2020 and previously led its markets division, will become a senior adviser.
The leadership changes were communicated through internal memos from both firms. At JPMorgan, Thakur will immediately step into his expanded role, as noted by co-heads Troy Rohrbaugh and Doug Petno, who praised Sippel’s significant contributions to the firm’s markets business, highlighting his role in driving revenue growth and establishing JPMorgan as a leading equities franchise.
Thakur, who joined JPMorgan in 2007, previously managed global macro markets and has advanced through the ranks in fixed-income trading. Sippel rose through the stock-trading unit to lead prime brokerage and global equities. Under their leadership, JPMorgan achieved a record $30 billion in trading revenue for 2024, and in the second quarter of 2022, the firm surpassed competitors Goldman Sachs and Morgan Stanley to claim the top equities position for the first time since at least 2006.
