JP Morgan Appoints David Xu as Head of Chinese Equities

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.


JP Morgan Appoints David Xu as Head of Chinese Equities

June 5, 2019

JP MorganAs per recent update found in Reuters website, JP Morgan has appointed David Xu as the Head and Managing Director of its Chinese equities business division. As per the update, David Xu will be placed in the firm’s Shanghai office and will report to Ryan Holsheimer – current head of cash equity sales and trading for Asia-Pacific region at JP Morgan.

The move to JP Morgan is also visible in David’s LinkedIn profile according to which, he has been serving as Head and MD of Chinese equities business since April 2019. Prior to his current role at JP Morgan, David was the Managing Director of Senior Relationship Management at UBS. JP Morgan is currently gearing up for the launch of its majority-owned onshore securities joint venture in China.

According to report published in website Financemagnates earlier this year, JP Morgan in combination with Nomura managed to acquire regulatory approval from the China Securities Regulatory Commission (CSRC) for setting up joint venture brokerage firm in the country. This approval was obtained post Chinese regulatory authority’s decision to hike the ceiling on foreign ownership of China-based securities firm to 51% which was previously set at 49%. The decision was made by regulatory authority back in April 2018. Prior to JP Morgan, David’s tenure at UBS was for 4 years and seven months having joined the banking giant back in September 2014 and served as part of UBS family till his resignation earlier this April.

David started out at UBS as its Director, Head of Equities Sales for Chinese market back in 2014 and was promoted twice, first as Head of Equities in June 2016 and then to post of MD – Senior Relationship Management back in August 2017. Prior to UBS, David served in one of China’s leading investment banking firms – China International Capital Corporation Limited (CICC) for nearly four years. He joined the firm as Executive Director in 2010 and was promoted to the role of Managing Director in 2013. As per memo sent by JP Morgan spokesperson to Reuters, the firm also promoted Nick Lai, who is currently serving as Asia Pacific auto research analyst to head of Chinese equity research and Karen Li & Cusson Leung were promoted to co-heads of Hong Kong equity research.

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