It was the way in Asia last year, that all you needed to do was to offer investors a structured product stylised as an accumulator, and watch the money roll in. It was one of the two ways in 2007 to ‘make a killing’ in structured products in the region. In true derivatives fashion, everyone was a winner so free (or at least fee-based) money for all.
While most wait for next month to see how the financial markets settle, if they ever will, we are waiting for a different reason. We want to know which senior structured products banker will be profiled by SRP.com in its monthly web-based magazine. Why are we interested – other than wanting to have a healthy knowledge of the competition? It’s the profile page that we want to see and the reason is that the online magazine has developed an unerring kiss of death when it comes to its choices. Last month in Structured Products magazine we wrote about the departure of Giles Rothwell, who left JP Morgan’s London offices merely weeks after he was profiled by SRP.com.
So did he end up working in advertising, after all?
The question was asked of Giles Rothwell, erstwhile head of retail structured products at JP Morgan; the question was asked by a competing publication to Structured Products magazine.
Unfortunately for the competing publication, which included a full vanity profile on the experienced banker, the question asked in the first line of the profile remains. It was only days after the publication of the article that Rothwell decided he had completed his brief stint at the US investment bank.
After detailing Rothwell’s career path and outlining some of his plans for the behemoth, the article concludes – correctly as hindsight would have it – that “all Rothwell needs … is serendipity and the willingness to adapt and change as he forges a common identity”.
A fair observation to report, but not sure that the magazine in question quite had the idea that Rothwell’s next move was to pack his bags and leave the US bank.