JP Morgan poaches Citi’s top treasury expert

Having struggled for over a year to fill the position, JP Morgan has revealed that former engineer Gourang Shah will take up the reins as head of its treasury advisory business.

Shah previously spent six years at Citi Bank, latterly as a managing director and head of treasury advisory for treasury and trade solutions. He began his career in engineering but later rose to the position of assistant treasurer at Tyco Electronics.

His role at JP Morgan will be based in Singapore, reporting to Dianne Challenor. He succeeds Victor Penna, who last year was recruited by Standard Chartered to create their own treasury advisory business.

Citi has not yet said whether Shah’s replacement has been found – but, it seems, with such a small pool of suitable candidates available, they may be searching for some time.