Even in the age-conscious Euromarket where the best and the brightest, like policemen, seem to get younger, Bill Winters is a classic example of a fast-track career. Still only 35, he runs all of JP Morgan's fixed-income activities in Europe. Given Morgan's surge in primary underwriting and inherent strengths in swaps and derivatives, this makes him one of the most important individuals in the Euromarket. "Bill Winters' position is not dissimilar to Jimmy Forese at Salomon Brothers in London but Bill carries the Morgan calling card which gives him a definite advantage," comments a former Salomon managing director.
Certainly JP Morgan has cut a swathe through the Euromarkets in the past two years. While no-one doubted the bank's determination, the name or the depth of its financial resources, it was the rapidity of Morgan's ascent which took competitors by surprise. "They accomplished in two years what might have taken others five," says an admiring syndicate manager at Merrill Lynch. And Merrill should know. Since 1994 Merrill Lynch has dominated the primary Euromarket league tables. But who lay second behind Merrill at the end of the first quarter of this year? Yes, you've guessed it - JP Morgan.