The three JP Morgan CLO leaders that 9fin reported had departed the bank are set to join SMBC Nikko, according to 9fin sources. Christine Ferris, Anusha Joly and Mussie Tizazu resigned from JP Morgan this week and are joining SMBC Nikko in a move that somewhat resembles when Scotiabank lifted the Natixis CLO arranging team.

There is a slight difference in that Scotiabank was setting up a brand new CLO arranging desk and hired a proven CLO team from Natixis. SMBC Nikko does already have a CLO arranging desk, led by Harry Huang. But securing talent from JP Morgan suggests big plans are afoot to grow this operation.