The U.S. investment bank is aiming to grow its Swiss trading financing. It is poaching a fintech banker to do so.
New York-based J.P. Morgan is naming Michael Rieskamp its head of trade sales for German-speaking Europe, effective immediately, according to a memo seen by finews.com. Rieskamp spent the last five years at Taulia, a Silicon Valley supply chain finance start-up which had worked closely with insolvent Greensill.
The trade sales role is a new job at J.P. Morgan, underscoring the U.S. bank's desire to grow in areas including export financing, trade loans, financing of receivables, standby letters of credit, and guarantees.
Based in Frankfurt, Rieskamp will report to Soraya Ahmed, J.P. Morgan's trade financing chief in the wider European, Middle East, and Africa region. He was with Citi, Crédit Agricole, and Calyon before joining Taulia in 2016.
