Financial News names Tom Rees moving from Eisler Capital to JPMorgan, Kavi Gupta moving from Jain Global to BNP Paribas, and Ron Adler returning from Citadel to JPMorgan. Senior titles, broader risk limits, larger teams and greater job security are among the attractions described. The report puts global-bank trading revenue at $162.1 billion in the first half of 2026, up 19% year over year. Financial News
Three moves do not establish an industry reversal. They do show that the platform comparison is broader than headline pay. Risk limits determine which positions can exist; balance sheet and engineering support change the size and type of business a team can run; team scale, portability of a track record and time spent under non-compete restrictions change the option value of moving.
Eisler’s 2025 closure is relevant context rather than a general explanation. A separate Financial News report says roughly 140 investment professionals came onto the market, with Millennium, Balyasny, BlueCrest and Verition among the firms hiring from that pool. Reported 2025 staff costs were nearly $492 million. Financial News