Equities sales teams shine as deal-making slows; banks vie for staff

A slowdown in deal-making and an increase in volatility is helping to bring equities sales – not often the glamour team of the global banks – to the fore, with a string of moves at the local branches of Wall Street giants.

The most recent, announced to staff on Wednesday, was the poaching by JPMorgan of Ottilia Spencer from its rival, Goldman Sachs. Based in Sydney, Ms Spencer will focus on small-to-mid-cap equities sales and is due to start at the end of June, a spokesman for JPMorgan told The Australian Financial Review. Known as Tilly, she will report to Alex Menzies, the head of equities sales, and work with Peter Meletis, who manages institutional equity sales.