(Bloomberg) -- Sumitomo Mitsui Financial Group Inc. is hiring a trio of bankers from JPMorgan Chase & Co. to grow the Japanese firm’s collateralized loan obligation platform, as activity in the roughly $1 trillion market has surged this year.
Leaving JPMorgan are Christine Ferris, global head of CLO primary; Anusha Joly, global head of CLO syndicate; and Mussie Tizazu, who structures CLOs, according to people with knowledge of the matter who asked not to be identified as the matter is private.
Ferris will lead securitized products at unit SMBC Nikko Securities America Inc., a separate person said. Spokespeople for JPMorgan and SMBC declined to comment. Ferris, Joly and Tizazu didn’t immediately reply to requests for comment.
The JPMorgan veterans helped make the bank a leader in issuing and structuring CLOs, which repackage leveraged loans into securities of varying risk and size. CLO issuance has soared in 2024, with new-money deals climbing more than 70% this year to $150 billion, according to data compiled by Bloomberg News.
Ferris started at JPMorgan in 2007, working as part of the structured credit sales team, according to her LinkedIn profile. Joly’s profile says she had been with the bank since 2016 after stints at other institutions including Citigroup Inc. Tizazu spent seven years at JPMorgan, his profile says.
--With assistance from Charles Williams.
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