London-based CreditTrade has appointed Adam Wethered as deputy chairman. Wethered (47) was latterly head of private banking and institutional clients for Emea at J P Morgan.
Previously, Wethered was chief operating officer for JP Morgan Europe where he oversaw a major restructuring of the business. As former CEO of JP Morgan Securities he oversaw credit, corporate finance, strategic planning and specialised financing activities.
Wethered comments: "CreditTrade's business model has enabled it to generate substantial liquidity and establish itself as a leader in the credit trading markets. I welcome the opportunity to drive the business forward, building on CreditTrade's hybrid approach which combines voice assisted and electronic trading to best advantage."
CreditTrade is operated by SFA regulated Mutant Technology. It's main customers include the credit trading arms of investment and commercial banks, insurance and reinsurance companies. Credit products traded on the exchange include credit derivatives, loans and asset swaps. Major stakeholders include Chase Manhattan Bank, Internet Capital Group, Prebon Yamane and Sculley Brothers.